Synthetic Rubber Co., Investors Reach $1.5M Stock-Drop Deal

Law360 (November 18, 2019, 4:09 PM EST) -- Kraton Corp. and investors in the synthetic rubber producer have asked a Texas federal judge to approve a $1.5 million settlement in the shareholders' stock-drop lawsuit.

If approved, the proposed settlement would end allegations that for four months at the end of 2017, the company hid production issues from its investors, resulting in an alleged $7.6 million impact on 2017 earnings and a 15% decline in stock price when the production problems were revealed.

Lead plaintiff Greg Hrasok says the proposed settlement comes from nearly 10 months of negotiations and estimates it is worth 19.5% of shareholder losses. In the Friday...

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