NEW YORK, Aug. 07, 2019 (GLOBE NEWSWIRE) -- Levi & Korsinsky notifies investors that it has commenced an investigation of International Flavors & Fragrances Inc. (“IFF” or “the Company”) (IFF) concerning possible violations of federal securities laws.
On August 5, 2019, IFF announced its financial results for the second quarter of 2019 and revealed that it had 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. IFF also 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, IFF’s stock price fell over 15%, to close at $118.91 per share on August 6, 2019. To obtain additional information, go to:
or contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500.
Levi & Korsinsky is a national firm with offices in New York, California, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
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New York, NY 10006
Tel: (212) 363-7500
Fax: (212) 363-7171