NYSE: IFF Investor Notice: Lawsuit against International Flavors & Fragrances Inc. announced by Shareholders Foundation
SAN DIEGO, CA, September 24, 2019 (Newswire.com) - The Shareholders Foundation, Inc. announces that a lawsuit is pending for certain investors in shares of International Flavors & Fragrances Inc. (NYSE:IFF).
Investors, who purchased shares of International Flavors & Fragrances Inc. (NYSE:IFF), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
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.
On August 12, 2019, a lawsuit was filed against International Flavors & Fragrances Inc over alleged securities laws violations. The plaintiff claims that 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 International Flavors & Fragrances Inc. (NYSE:IFF) shares should contact the Shareholders Foundation, Inc.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, 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. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.
SOURCE: Shareholders Foundation, Inc.
Source: Shareholders Foundation, Inc.
