SAN DIEGO, Jan. 29, 2018 /PRNewswire/ -- Shareholder rights
law firm Johnson Fistel, LLP has launched an investigation into
whether the board members of KapStone Paper and Packaging
Corporation (NYSE: KS) ("KapStone") breached their fiduciary duties
in connection with the proposed sale of the Company to WestRock
Company (NYSE: WRK) ("WestRock").
On January 29, 2018, KapStone
announced that it had signed a definitive merger agreement with
WestRock. Under the terms of the agreement, KapStone stockholders
will have the option to receive $35.00 per share in cash, or to elect to receive
0.4981 WestRock shares per KapStone share, with elections of stock
consideration capped at 25% of the outstanding KapStone shares but
no limit on the number of KapStone shares that can receive cash
consideration.
The investigation concerns whether the KapStone board failed to
satisfy its duties to the Company shareholders, including whether
the board adequately pursued alternatives to the acquisition and
whether the board obtained the best price possible for KapStone
shares of common stock.
If you are a shareholder of KapStone and believe the
proposed buyout price is too low or you're interested in learning
more about the investigation or your legal rights and remedies,
please contact lead analyst Jim
Baker (jimb@johnsonfistel.com) at 619-814-4471. If emailing,
please include a phone number.
About Johnson Fistel,
LLP:
Johnson Fistel, LLP is a nationally
recognized shareholder rights law firm with offices in California, New
York and Georgia. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit
http://www.johnsonfistel.com. Attorney advertising. Past results do
not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
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SOURCE Johnson Fistel, LLP