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KapStone Paper and Packaging Corp. (NYSE:KS) Investor Lawsuit Filed Against Acquisition

  • Investors who purchased shares of KapStone Paper and Packaging Corp. (NYSE:KS) have certain options. Please contact the Shareholders Foundation, Inc.

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Lawsuit Overview

Case Dismissed
Company
KapStone Paper and Packaging Corp.
Security
NYSE: KS

Case Name
KapStone Paper and Packaging Deal Case
Type of Lawsuit
Mergers and Acquisition
Court of Filing
U.S. District Court for the District of Delaware

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Summary

January 9, 2020 - The related case was voluntarily dismissed.
November 8, 2018 - The case was voluntarily dismissed.However, a related case continued under Docket 18-CV-01210.

August 6, 2018 - An investor, who currently holds shares of KapStone Paper and Packaging Corp. (NYSE:KS), filed a lawsuit against the takeover of KapStone Paper and Packaging Corp. by WestRock Company.

The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:KS stockholders by agreeing to sell of KapStone Paper and Packaging Corp. cheaply via an unfair process.

On Jan. 29, 2018, WestRock Company (NYSE:WRK) and KapStone Paper and Packaging Corp. (NYSE:KS) announced the signing of an agreement, pursuant to which WestRock will acquire all of the outstanding shares of KapStone Paper and Packaging Corp. for $35.00 per share and will assume approximately $1.36 billion in net debt, for a total enterprise value of approximately $4.9 billion.

However, plaintiff claims that the proposed consideration NYSE:KS shareholders will receive is grossly inadequate and undervalues KapStone Paper and Packaging Corp. In addition, the plaintiff alleges that the process is also unfair NYSE:KS stockholders.