NEW YORK, Aug. 09, 2019 (GLOBE NEWSWIRE) -- Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of International Flavors & Fragrances Inc. (IFF) resulting from allegations that International Flavors may have issued materially misleading business information to the investing public.
On August 5, 2019, International Flavors announced its financial results for the second quarter of 2019. International Flavors significantly lowered its 2019 guidance, advising investors that it expects adjusted earnings per share (“EPS”) of $4.85 to $5.05 on revenue of $5.15 billion to $5.25 billion, down from its previous guidance of adjusted EPS in the range of $4.90 to $5.10 and revenue of $5.2 billion to $5.3 billion. In addition, International Flavors disclosed that it is investigating improper payments made by two businesses of its Israeli subsidiary Frutarom “operating principally in Russia and Ukraine . . . to representatives of a number of customers.”
On this news, International Flavors’ stock price fell $22.56 per share, or 15.95%, to close at $118.91 per share on August 6, 2019.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by International Flavors investors. If you purchased shares of International Flavors please visit the firm’s website at http://www.rosenlegal.com/cases-register-1649.html to join the class action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at email@example.com or firstname.lastname@example.org.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has secured hundreds of millions of dollars for investors.
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Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
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