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You must submit the settlement "Proof" form attached below, in order to participate in this settlement. There is a strict deadline of March 27, 2020 by which all claims must be submitted. The instructions for submitting are included in the "Proof" and the "Notice" files attached below for your download. DO NOT SEND THE FORMS TO THE SHAREHOLDERS FOUNDATION, INC.
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To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Lawsuit Overview
Settlement Overview
You must register to view and download the Settlement Notice and Settlement Proof.
April 28, 2020 - The court granted final approval of the settlement.
December 18, 2019 - The court preliminarily approved the settlement.
November 15, 2019 - A stipulation and agreement of settlement was entered by the parties.
September 11, 2019 - The court denied the defendants' motion to dismiss.
October 11, 2018 - A motion to dismiss the amended complaint was filed.
August 27, 2018 - An amended complaint was filed.
February 26, 2018 - An investor in shares of Kraton Corp (NYSE: KRA) filed a lawsuit in the U.S. District Court for the Southern District of Texas over alleged violations of Federal Securities Laws by Kraton Corp in connection with certain allegedly false and misleading statements made between October 25, 2017 February 21, 2018.
Houston, TX based Kraton Corporation formerly Kraton Performance Polymers Inc, is a specialty chemicals company that manufactures styrenic block copolymers (SBCs) and other engineered polymers. Kraton Corp reported that its annual Ttoal Revenue rose from over $1.74 billion in 2016 to over $1.96 billion in 2017 and that its Net Income declined from $107.31 million in 2017 to $97.55 million in 2017.
On February 20, 2018, Kraton Corp announced its fourth quarter and full year 2017 results, stating “certain customers notified” the company during the fourth quarter that “they were experiencing issues processing” the company’s Cariflex material. Shares of Kraton Corp (NYSE: KRA) declined from $51.03 per share on February 20, 2018 to as low as $42.30 per share on February 21, 2018. According to the complaint the plaintiff alleges on behalf of purchasers of Kraton Corp (NYSE: KRA) common shares between October 25, 2017 February 21, 2018, that the defendants violated Federal Securities Laws.
More specifically, the plaintiff claims that between October 25, 2017 February 21, 2018, the defendants made false and/or misleading statements and/or failed to disclose that Kraton Corp was transitioning customers to Brazilian-produced Cariflex even though certain customers had already rejected that product, that Kraton Corp’s Brazilian-produced Cariflex was available to customers when in fact certain customers had already rejected that product, that Kraton Corp lacked effective internal controls over financial reporting, and that as a result, defendants’ statements about Kraton Corp’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.