Calumet Specialty Products (CLMT) has disclosed a new risk, in the Share Price & Shareholder Rights category.
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Calumet Specialty Products faces potential business risks due to provisions in its amended and restated certificate of incorporation, which designate specific courts as exclusive forums for certain legal actions initiated by stockholders. This restriction may limit stockholders’ ability to choose a favorable judicial forum for disputes involving the company or its affiliates, possibly discouraging such lawsuits. However, if courts find these provisions unenforceable, the company may face increased legal costs from having to resolve disputes in various jurisdictions, which could negatively impact its financial condition and operations. Such a scenario underscores the legal and financial uncertainties that this forum selection clause could introduce.
The average CLMT stock price target is $23.75, implying 76.45% upside potential.
To learn more about Calumet Specialty Products’ risk factors, click here.