Levi & Korsinsky, LLP announces that a IFF class action lawsuit has been commenced on behalf of investors who purchased International Flavors & Fragrances Inc. (IFF) securities between May 7, 2018 and August 5, 2019. For more on the International Flavors & Fragrances Class Action please contact us today.
According to the International Flavors & Fragrances lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) that Frutarom Industries Ltd. (“Frutarom”), which the Company acquired in 2018, 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.
TO LEARN MORE ABOUT THE IFF CLASS ACTION, VISIT: https://www.zlk.com/pslra-1/international-flavors-fragrances-inc-loss-form?wire=3
If you suffered a loss in International Flavors & Fragrances you have until October 11, 2019 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Fax: (212) 363-7171