DALLAS--(BUSINESS WIRE)--Former United States Securities and Exchange Commission attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation firm of Powers Taylor LLP announce that a federal class action lawsuit has been filed in the United States District Court, Middle District of Florida against Rayonier Advanced Materials, Inc. (“RYAM”) (NYSE:RYAM) and several officers and directors for acts taken during the period of June 30, 2014 to January 28, 2015 (the “Class Period”).
Based upon the allegations in the class action, the firms are investigating additional legal claims against the officers and Board of Directors of RYAM. If you are an affected RYAM shareholder and want to learn more about the lawsuit or join the action, contact Willie Briscoe at The Briscoe Law Firm, PLLC via email at email@example.com, Patrick Powers at Powers Taylor LLP via email at firstname.lastname@example.org, or call toll free at (877) 728-9607. There is no cost or fee to you.
According to the complaint, the defendants are alleged to have violated certain provisions of the Securities Exchange Act of 1934. Specifically, the complaint alleges, among other things, that defendants improperly reported and/or failed to record material liabilities for environmental remediation and related obligations in violation of Generally Accepted Accounting Principles in its publicly issued financial statements. The complaint also alleges that RYAM failed to provide sufficient disclosure to investors to allow for a meaningful evaluation of the true scope and extent of the environmental remediation and related liabilities, which were associated with decades of environmental pollution. On January 28, 2015 RYAM announced that it would be making massive adjustments to its environmental reserves. RYAM stock dropped significantly immediately following this announcement.
The Briscoe Law Firm, PLLC is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.
Powers Taylor LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.