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.
This case was voluntarily dismissed on November 8, 2018.