NEW ORLEANS -- (Business Wire)
Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney
General of Louisiana, Charles C. Foti, Jr., remind investors that they
have until July 6, 2015 to file lead plaintiff applications in a
securities class action lawsuit against Rayonier Advanced Materials Inc.
(NYSE: RYAM) if they purchased the Company’s securities between June 30,
2014 and January 28, 2015, inclusive (the “Class Period”). This action
is pending in the United States District Court for the Middle District
of Florida.
What You May Do
If you purchased shares of Rayonier Advanced and would like to discuss
your legal rights and how this case might affect you and your right to
recover for your economic loss, you may, without obligation or cost to
you, call toll-free at 1-877-515-1850 or email KSF Managing Partner
Lewis Kahn (lewis.kahn@ksfcounsel.com).
If you wish to serve as a lead plaintiff in this class action, you must
petition the Court by July 6, 2015.
About the Lawsuit
On June 30, 2014, Rayonier, Inc. spun-off its Performance Fibers
Division, resulting in two independent, publicly-traded companies (the
“Separation”). Rayonier Advanced and certain of its executives are
charged with failing to disclose material information during the Class
Period and at the time of the Separation, violating federal securities
laws.
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 ("GAAP") and failed to disclose
the true demand for its products. Additionally, in connected 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.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former Louisiana
Attorney General, Charles C. Foti, Jr., and other lawyers with
significant experience litigating complex securities class actions
nationwide on behalf of both institutional and individual shareholders,
you may visit www.ksfcounsel.com.
Contacts:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner,
877-515-1850
lewis.kahn@ksfcounsel.com
Source: Kahn Swick & Foti, LLC
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