STEVENSON, Md.--(BUSINESS WIRE)--The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the Middle District of Tennessee on behalf of purchasers of Rayonier Advanced Materials, Inc. (NYSE: RYAM) (“Rayonier” or the “Company”) securities during the period between October 29, 2014 and August 19, 2015, inclusive (the “Class Period”). Investors who wish to become proactively involved in the litigation have until October 16, 2017 to seek appointment as lead plaintiff.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Rayonier securities during the Class Period. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants’ failure to disclose during the Class Period that since 2013, Eastman Chemical Company (“Eastman”) had been informing Rayonier of its competitors’ pricing and requesting that Rayonier respond to declines in market pricing and Rayonier and Eastman have been in a protracted dispute over the “meet and release” provision of their agreement.
According to the complaint, following an August 18, 2015 announcement that the Company had filed an action against Eastman regarding its chemical cellulose specialty products contract with Eastman, and an August 19, 2015 announcement that the dispute was regarding the “meet or release” provision, the value of Rayonier shares declined significantly.
If you have suffered a loss in excess of $100,000 from investment in Rayonier securities purchased on or after October 29, 2014 and held through the revelation of negative information during and/or at the end of the Class Period and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentsecuritiescases.html. You may also request more information by contacting Brower Piven either by email at firstname.lastname@example.org or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.