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NYSE:IFF Investor Notice: Lawsuit Alleges Securities Laws Violations by International Flavors & Fragrances Inc.

Via: ReleaseWire

Updated 11:15 AM CDT, Tue, August 27,2019

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

San Diego, CA -- (SBWIRE) -- 08/27/2019 -- 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.

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. The 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: (1) that Frutarom had bribed customers in Russia and Ukraine; (2) that senior management at Frutarom were aware of such improper payments; (3) that, as a result, Frutarom's financial results were materially overstated; (4) that, as a result of the improper payments, the Company was reasonably likely to face regulatory scrutiny; (5) that the Company had not completed adequate due diligence before acquiring Frutarom; (6) that, as a result of the foregoing, the Company was unlikely to achieve purported synergies from the acquisition; and (7) 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.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and 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. 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, investigation, and/or settlements are not filed/reached and/or 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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Media Relations Contact
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