Was anything added to the file on import, check the master clip.
My preferred method of dealing with Log encoded footage is the ACES workflow. Sadly, Adobe software isn't yet capable of this. You'd have to use DaVinci Resolve for the task. There is a free version, though. And you can export out Transcodes with the proper color baked in for use in Premiere Pro.
Still having issues with this, Philipmcgouran? Let us know.