BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Resolute Forest Products Inc. investors ("Resolute" or the "Company") (NYSE: RFP) concerning the Company’s and its officers’ possible violations of federal securities laws.
On October 15, 2015, the Company announced that “the U.S. Department of Commerce released rates in the countervailing duty investigation of imports of supercalendered paper from Canada” and that “Commerce determined a final subsidy rate of 17.87% for Resolute.” However, the Company also disclosed that on July 29, 2015, Commerce calculated a preliminary rate of 2.04% for Resolute, and that Commerce's justification for the change is based on the application of "adverse facts available," saying that the Company "did not fully cooperate with the investigation."
On this news, the Company’s stock price fell $0.58, or more than 5%, to close at $9.66 on October 16, 2015, damaging investors.
If you purchased Resolute securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com.
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