Calgon Carbon Corporation, Others Facing Stockholder’s Securities Lawsuit

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A proposed class action lawsuit has been filed against Calgon Carbon Corporation, its board of directors, Kuraray Co., Ltd., Kuraray Holdings U.S.A., Inc., and KJ Merger Sub, Inc. demanding that the parties release material information regarding a potential merger between Calgon and Kuraray. The plaintiff, a Calgon stockholder, claims the companies filed a misleading proxy statement in connection with the proposed transaction that omitted information concerning Calgon’s financial projections and the valuation analyses performed by its financial advisor. From the complaint:

“The disclosure of projected financial information is material because it provides stockholders with a basis to project the future financial performance of a company, and allows stockholders to better understand the financial analyses performed by the company’s financial advisor in support of its fairness opinion.”