BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Rayonier Advanced Materials Inc. (“Rayonier” or the “Company”) (NYSE: RYAM) securities between October 29, 2014 and August 19, 2015, inclusive (the “Class Period”). Rayonier investors have until October 16, 2017 to file a lead plaintiff motion.
Investors suffering losses on their Rayonier investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to firstname.lastname@example.org.
The complaint filed in this class action alleges that throughout the Class Period, the Company issued materially false and misleading statements and/or failed to disclose adverse information regarding Rayonier’s business and outlook, including the Company’s deteriorating relationship with a key customer, Eastman Chemical Company. Despite the Company’s claims during the Class Period of its ability, “to maintain or increase its share of volume at each of its top 10 customers," Eastman Chemical Company, had been informing Rayonier throughout the Class Period of its competitors’ pricing and had requested that Rayonier respond to declines in market pricing, leading to a protracted dispute between Rayonier and Eastman over the “meet and release" provision of their agreement.
Then in August of 2015, Rayonier disclosed that Eastman Chemical Company had filed suit seeking to enforce the price matching provisions of its contract with Rayonier. Following this news, the price of Rayonier common stock fell $6.01 per share, or 44%, to close at $7.62 per share.
If you purchased Rayonier, 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 email@example.com, or visit our website at www.howardsmithlaw.com.
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