JACKSONVILLE, Fla., June 26, 2017 /PRNewswire/ --
UNITED STATES DISTRICT COURT
MIDDLE DISTRICT OF FLORIDA
IN RE RAYONIER INC. SECURITIES LITIGATION
Case No. 3:14-cv-01395-TJC-JBT
SUMMARY NOTICE OF (I) PENDENCY OF CLASS ACTION, CERTIFICATION OF SETTLEMENT CLASS, AND PROPOSED SETTLEMENT; (II) SETTLEMENT FAIRNESS HEARING; AND (III) MOTION FOR AN AWARD OF ATTORNEYS' FEES
AND REIMBURSEMENT OF LITIGATION EXPENSES
TO: All persons and entities who, during the period from October 26, 2010, through November 7, 2014, inclusive (the "Settlement Class Period"), purchased or otherwise acquired Rayonier common stock, and were damaged thereby (the "Settlement Class"):
PLEASE READ THIS NOTICE CAREFULLY, YOUR RIGHTS WILL BE AFFECTED BY A CLASS ACTION LAWSUIT PENDING IN THIS COURT.
YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Middle District of Florida, that the above-captioned litigation has been certified as a class action for settlement purposes only on behalf of the Settlement Class, except for certain persons and entities who are excluded from the Settlement Class. The detailed class notice is available on the settlement website, www.RayonierSecuritiesSettlement.com, or by calling the claims administrator at 1-844-308-9228.
YOU ARE ALSO NOTIFIED that Lead Plaintiffs have reached a proposed settlement for $73 million in cash that, if approved, will resolve all claims in the Action.
A hearing will be held on September 8, 2017 at 10:00 a.m., before the Honorable Timothy J. Corrigan at the United States District Court for the Middle District of Florida, Bryan Simpson U.S. Courthouse, Courtroom 10D, 300 North Hogan Street, Jacksonville, FL 32202, to determine (i) whether the proposed settlement should be approved as fair, reasonable, and adequate; (ii) whether the Action should be dismissed with prejudice against Defendants, and the Releases specified in the settlement stipulation should be granted; (iii) whether the proposed plan for allocating the settlement funds should be approved as fair and reasonable; and (iv) whether class counsel's application for attorneys' fees and expenses should be approved.
If you are a member of the Settlement Class, your rights will be affected by the pending action and the settlement, and you may be entitled to share in the settlement fund. You may obtain copies of the Notice and Claim Form by contacting the claims administrator at Rayonier Securities Litigation, P.O. Box 5270, Portland, OR 97208-5270, 1-844-308-9228. Copies of the Notice and Claim Form can also be downloaded from the website maintained by the claims administrator, www.RayonierSecuritiesSettlement.com.
If you are a member of the Settlement Class, in order to potentially be eligible to receive money from the settlement, you must submit a Claim Form postmarked no later than October 13, 2017. If you are a Settlement Class Member and do not submit a proper Claim Form, you will not receive any money, but you will be bound by any judgment entered by the Court in the Action.
If you are a member of the Settlement Class and wish to exclude yourself from the Settlement Class, you must submit a request for exclusion such that it is received no later than August 18, 2017, in accordance with the instructions set forth in the Notice. If you properly exclude yourself from the Settlement Class, you will not be bound by any judgment entered by the Court in the Action and you will not receive any money from the settlement.
Any objections to the proposed settlement, plan for allocating settlement funds, or fees and expenses, must be filed with the Court and delivered to representatives of class counsel and defendants' counsel such that they are received no later than August 18, 2017, in accordance with the instructions set forth in the Notice.
Please do not contact the Court, the Clerk's office, Rayonier, or its counsel regarding this notice. All questions about this notice, the proposed settlement, or your eligibility to participate in the Settlement should be directed to class counsel or the claims administrator.
Inquiries, other than requests for the Notice and Claim Form, should be made to class counsel:
BERNSTEIN LITOWITZ BERGER & GROSSMANN LLP
David R. Stickney, Esq.
12481 High Bluff Drive, Suite 300
San Diego, CA 92130
SAXENA WHITE P.A.
Lester R. Hooker, Esq.
5200 Town Center Circle, Suite 601
Boca Raton, FL 33486
Requests for the Notice and Claim Form should be made to:
By Order of the Court
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/bernstein-litowitz-berger--grossmann-llp-and-saxena-white-pa-announce-proposed-settlement-of-in-re-rayonier-inc-securities-litigation-300477797.html
SOURCE Bernstein Litowitz Berger & Grossmann LLP and Saxena White P.A.