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Lawsuit filed for Investors in shares of International Flavors & Fragrances Inc. (NYSE: IFF)

08-20-2019 06:34 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit was filed on behalf of investors in International Flavors & Fragrances Inc. (NYSE: IFF) shares.

A lawsuit was filed on behalf of investors in International Flavors & Fragrances Inc. (NYSE: IFF) shares.

An investor, who purchased shares of International Flavors & Fragrances Inc. (NYSE: IFF), filed a lawsuit over alleged violations of Federal Securities Laws by International Flavors & Fragrances Inc. in connection with certain allegedly false and misleading statements.

Investors who purchased shares of International Flavors & Fragrances Inc. (NYSE: IFF) have certain options and for certain investors are short and strict deadlines running. Deadline: October 11, 2019. NYSE: IFF investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

New York based International Flavors & Fragrances Inc., together with its subsidiaries, manufactures flavors and fragrances for use in various consumer products. International Flavors & Fragrances Inc acquired Frutarom Industries Ltd. (“Frutarom”) in October 2018 for $7.1 billion.

On August 5, 2019, International Flavors & Fragrances Inc announced it is investigating "improper payments" made by Israeli ingredient and flavor subsidiary Frutarom, which the company acquired in a $7.1 billion deal in May 2018.
During the integration of Frutarom, International Flavors & Fragrances Inc said, it was made aware of allegations that "two Frutarom businesses operating principally in Russia and Ukraine made improper payments to representatives of a number of customers."
Additionally, on August 5, 2019, International Flavors & Fragrances Inc reported second-quarter financial results and reduced its outlook for the full year.

Shares of International Flavors & Fragrances Inc. (NYSE: IFF) declined from $152.95 per share in June 2019 to as low as $121.04 per share on Augus t8, 2019.

The plaintiff claims that between May 7, 2018 and August 5, 2019, the Defendants failed to disclose to investors that Frutarom had bribed customers in Russia and Ukraine, that senior management at Frutarom were aware of such improper payments, that, as a result, Frutarom’s financial results were materially overstated, that, as a result of the improper payments, the Company was reasonably likely to face regulatory scrutiny, that the Company had not completed adequate due diligence before acquiring Frutarom, that, as a result of the foregoing, the Company was unlikely to achieve purported synergies from the acquisition, and that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Those who purchased shares of International Flavors & Fragrances Inc. (NYSE: IFF) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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