NEW YORK, Sept. 03, 2019 (GLOBE NEWSWIRE) -- Pawar Law Group announces that a class action lawsuit has been filed on behalf of shareholders who purchased shares of International Flavors & Fragrances (NYSE: IFF) from May 7, 2018 through August 5, 2019, inclusive (the “Class Period”). The lawsuit seeks to recover damages for International Flavors & Fragrances investors under the federal securities laws.
To join the class action, go to http://pawarlawgroup.com/cases/international-flavors-fragrances-inc/ or call Vik Pawar, Esq. toll-free at 888-589-9804 or email info@pawarlawgroup.com for information on the class action.
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Frutarom Industries Ltd. (“Frutarom”), which International Flavors acquired in October 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) the Company was unlikely to achieve purported synergies from the acquisition; and (7) as a result, International Flavors’ public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than October 11, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
No class has been certified. Until a class is certified, you are not represented by counsel unless you hire one. You may hire counsel of your choice. You may also do nothing at this time and be an absent member of the class. Your ability to share in any future recovery is not dependent upon being a lead plaintiff.
Pawar Law Group represents investors from around the world.
-------------------------------
Contact:
Vik Pawar, Esq.
Pawar Law Group
20 Vesey Street, Suite 1210
New York, NY 10007
Tel: (917) 261-2277
Fax: (212) 571-0938
info@pawarlawgroup.com