On or around 03/24/2020 (Date of last review)
Filing Date: February 26, 2018
Kraton produces and sells styrenic block copolymers and other engineered polymers in the Americas, Europe, the Middle East, Africa, and the Asia Pacific.
According to the law firm press release, the Complaint alleges that Defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Kraton was transitioning customers to Brazilian-produced Cariflex even though certain customers had already rejected that product; (2) Kraton’s Brazilian-produced Cariflex was available to customers when in fact certain customers had already rejected that product; (3) Kraton lacked effective internal controls over financial reporting; and (4) as a result, defendants’ statements about Kraton’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
On June 26, 2018, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on August 27. Defendants filed a Motion to Dismiss the amended Complaint on October 11. On September 11, 2019, the Court issued an Order denying Defendants' Motion to Dismiss the amended Complaint. On September 16, the parties notified the Court that they had reached a Settlement in principle. The parties entered into a Stipulation of Settlement on November 15. On December 18, the Court issued an Order preliminarily approving the Settlement.
Company & Securities Information
Defendant: Kraton Corporation
Sector: Basic Materials
Industry: Chemicals - Plastics & Rubber
Headquarters: United States
Ticker Symbol: KRA
Company Market: New York SE
Market Status: Public (Listed)
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