The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Middle District of Tennessee on behalf of investors who purchased Rayonier Advanced Materials Inc. (“Rayonier”) (NYSE:RYAM) securities between October 29, 2014 and August 19, 2015.
The complaint alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that since 2013, one of Rayonier’s top customers, Eastman Chemical Company, had been informing Rayonier 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. Nevertheless, Rayonier claimed during the Class Period that in 2015 it would “be able to maintain or increase [its] share of volume at each of [its] top 10 customers.” When the true details entered the market, the lawsuit claims that investors suffered damages.
If you suffered a loss in Rayonier you have until October 16, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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