According to the Complaint, KapStone Paper and Packaging Corporation ("KapStone" or the "Company") is a leading North American producer of containerboard, unbleached kraft paper, and corrugated products, and a provider of packaging and logistics solutions. The Company operates four paper mills, twenty-two converting plants, and more than sixty-five warehouses and distribution centers located in North America. The business
employs approximately 6,200 people.
This action stems from a proposed transaction announced on January 29, 2018 (the “Proposed Transaction”), pursuant to which KapStone will be acquired by Westrock Company and its wholly-owned subsidiary, Whiskey Holdco, Inc. (“Holdco,” and together, “Westrock”).
On August 1, 2018, Defendants filed a proxy statement (the “Proxy Statement”) with the United States Securities and Exchange Commission (the “SEC”) in connection with the Proposed Transaction. The Complaint alleges that the Proxy Statement, which scheduled a stockholder vote on the Proposed Transaction for September 6, 2018, omits material information with respect to the Proposed Transaction, which renders the Proxy Statement false and misleading.