SAN DIEGO & HOUSTON--(BUSINESS WIRE)--Shareholder rights law firm Robbins Arroyo LLP announces that purchasers of Kraton Corporation (NYSE: KRA) filed a class action complaint against the company's officers and directors for alleged violations of the Securities Exchange Act of 1934 between October 25, 2017 and February 21, 2018. Kraton manufactures and sells styrenic block copolymers and other engineered polymers in the Americas, Europe, the Middle East, Africa, and the Asia Pacific.
View this information on the law firm's Shareholder Rights Blog: www.robbinsarroyo.com/kraton-corporation
Kraton Accused of Misleading Investors About its Product
According to the complaint, on October 25, 2017, Kraton stated in a conference call regarding its third quarter of 2017 earnings that the company was producing Cariflex, a polyisoprene product, at its plant in Brazil and that Cariflex was available to customers. However, Kraton didn’t mention that certain customers had already rejected its Brazilian-produced Cariflex. On February 21, 2018, Kraton revealed that some of its customers experienced processing issues with its Brazilian-produced Cariflex during the fourth quarter of 2017, and that in certain cases the material was returned to Kraton for evaluation. Kraton further admitted that the resulting negative financial impact to its fourth quarter 2017 operating income including its Adjusted EBITDA was $7.6 million. On this news, Kraton's stock fell $7.69 per share, or over 15%, to close at $43.10 per share on February 21, 2018.
Kraton Shareholders Have Legal Options
If you would like more information about your rights and potential remedies, contact attorney Leonid Kandinov at (800) 350-6003, LKandinov@robbinsarroyo.com, or via the shareholder information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.
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