The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased International Flavors & Fragrances Inc. (NYSE: IFF) securities between May 7, 2018 and August 5, 2019.
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) Frutarom Industries Ltd. ("Frutarom"), which the Company acquired in 2018, had bribed customers in Russia and Ukraine; (2) senior management at Frutarom were aware of such improper payments; (3) as a result, Frutarom’s financial results were materially overstated; (4) as a result of the improper payments, the Company was reasonably likely to face regulatory scrutiny; (5) the Company had not completed adequate due diligence before acquiring Frutarom; (6) as a result of the foregoing, the Company was unlikely to achieve purported synergies from the acquisition; and (7) 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.
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.
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