NEW YORK--(BUSINESS WIRE)--Jun. 23, 2017--
Regulatory News:
International Flavors & Fragrances Inc. (NYSE:IFF) (Euronext Paris:IFF)
and ZoomEssence Inc. have mutually agreed to settle all claims and
counterclaims brought in a lawsuit in the United States District Court
for the District of New Jersey.
The parties agreed to dismiss their claims against one another, with
prejudice and without any admission of liability or wrongful conduct, to
avoid any further expense and disruption from the litigation.
Under the settlement agreement, IFF will make a one-time payment to
ZoomEssence of $56 million and the parties will exchange full mutual
releases.
Meet IFF
International Flavors & Fragrances Inc. (NYSE:IFF) (Euronext Paris:IFF)
is a leading innovator of sensorial experiences that move the world. At
the heart of our company, we are fueled by a sense of discovery,
constantly asking “what if?”. That passion for exploration drives us to
co-create unique products that consumers taste, smell, or feel in fine
fragrances and beauty, detergents and household goods, as well as
beloved foods and beverages. Our 7,400 team members globally take
advantage of leading consumer insights, research and development,
creative expertise, and customer intimacy to develop differentiated
offerings for consumer products. Learn more at www.iff.com, Twitter,
Facebook,
Instagram,
and LinkedIn.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170623005283/en/
Source: International Flavors & Fragrances Inc.
International Flavors & Fragrances Inc.
Michael DeVeau,
212-708-7164
VP, Global Corporate Communications & Investor
Relations
Michael.DeVeau@iff.com