NEW ORLEANS–(BUSINESS WIRE)–Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors with losses in excess of $100,000 that they have until October 11, 2019 to file lead plaintiff applications in a securities class action lawsuit against International Flavors & Fragrances Inc. (NYSE: IFF) (“IFF” or the “Company”), if they purchased the Company’s securities between May 7, 2018 and August 5, 2019, inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased securities of IFF and would like to discuss your legal rights and how this case might affect your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-iff/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by October 11, 2019.
About the Lawsuit
IFF and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On August 5, 2019, IFF disclosed that Frutarom Industries, acquired in 2018, had improperly paid a number of customer representatives in Russia and Ukraine, a fact known by “key members of Frutarom’s senior management.” Further, IFF revealed it was reducing its 2019 sales financial guidance from $5.2B-$5.3B to $5.15B-$5.25B and adjusted EPS guidance from $4.90-$5.10 to $4.85-$5.05.
On this news, the price of IFF’s shares plummeted.
The case is Jansen v. International Flavors & Fragrances Inc., 1:19-cv-07536.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
1100 Poydras St., Suite 3200
New Orleans, LA 70163