LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces that a class action lawsuit has been filed on behalf of investors that purchased or otherwise acquired securities of Kraton Corporation (“Kraton” or the “Company”) (NYSE: KRA) between October 25, 2017 and February 21, 2018, inclusive (the “Class Period”). Kraton investors have until April 27, 2018 to file a lead plaintiff motion.
To obtain information or actively participate in the class action, please visit the Kraton page on our website at www.glancylaw.com/case/kraton-corporation.
Investors that suffered losses on their Kraton investments are encouraged to contact Lesley Portnoy of GPM to discuss their legal rights in this class action at 310-201-9150 or by email to email@example.com.
On February 20, 2018, Kraton announced its 2017 results, and disclosed that during the fourth quarter certain customers notified the Company that they were experiencing issues processing the Company’s Cariflex material. On this news, Kraton’s share price fell more than 15% to close at $43.10 per share on February 21, 2018, thereby injuring investors.
According to the Complaint, the Company issued false and/or misleading statements and/or failed to disclose that: (1) Kraton was transitioning customers to Brazilian-produced Cariflex even though certain customers had already rejected that product; (2) Kraton’s Brazilian-produced Cariflex was available to customers when in fact certain customers had already rejected that product; (3) Kraton lacked effective internal controls over financial reporting; and (4) as a result, defendants’ statements about Kraton’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
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If you purchased shares of Kraton during the Class Period you may move the Court no later than April 27, 2018 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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