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Case Status:    SETTLED
On or around 04/28/2020 (Date of order of final judgment)

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. On April 28, 2020, the Court granted final approval of the Settlement and entered Final Judgment.

COMPANY INFORMATION:

Sector: Basic Materials
Industry: Chemicals - Plastics & Rubber
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: KRA
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: S.D. Texas
DOCKET #: 18-CV-00591
JUDGE: Hon. Kenneth M Hoyt
DATE FILED: 02/26/2018
CLASS PERIOD START: 10/25/2017
CLASS PERIOD END: 02/21/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Steckler Gresham Cochran PLLC
  2. The Rosen Law Firm P.A. (New York)
No Document Title Filing Date
COURT: S.D. Texas
DOCKET #: 18-CV-00591
JUDGE: Hon. Kenneth M Hoyt
DATE FILED: 08/27/2018
CLASS PERIOD START: 10/25/2017
CLASS PERIOD END: 02/21/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Steckler Gresham Cochran PLLC
  2. The Rosen Law Firm, P.A. (New York)
No Document Title Filing Date
—Related District Court Filings Data is not available