Federman & Sherwood Announces the Filing of a Securities Class Action Lawsuit against Rayonier Advanced Materials, Inc.
Oklahoma City, OK (May 6, 2015) – On May 4, 2015, a securities class action lawsuit was filed in the United States District Court for the Middle District of Florida against Rayonier Advanced Materials, Inc. (NYSE: RYAM). The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material or false misrepresentations to the market which had the effect of artificially inflating the market price during the Class Period, which is June 30, 2014 through January 28, 2015. More specifically, this litigation was filed because Rayonier Advanced allegedly improperly recorded and/or failed to record on its publicly issued financial statements material liabilities for environmental remediation and related obligations in violation of Generally Accepted Accounting Principles and failed to disclose the true demand for its products. Additionally, in connection with the Separation, Rayonier Advanced incurred approximately $950 million of new debt, $906 million of which was distributed to the Company’s former parent company.
Plaintiff seeks to recover damages on behalf of all Rayonier Advanced Materials, Inc. shareholders who purchased common stock during the Class Period and are therefore a member of the Class as described above. You may move the Court no later than Friday, July 3, 2015 to serve as a lead plaintiff for the entire Class. However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995.
To join this class action, click here to obtain an investor certification. Once complete, please email this form to email@example.com, fax to us at (405) 239-2112 or send by regular mail to Federman & Sherwood, 10205 North Pennsylvania Avenue, Oklahoma City, OK 73120, ATTN: Robin.
Posted on Wed, May 6, 2015
by Robin Hester filed under