NEW YORK, Nov. 10, 2014 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of Rayonier Inc. ("Rayonier" or the "Company") (NYSE: RYN), concerning whether the board has breached its fiduciary duties to shareholders and/or violated the federal securities laws.
On November 10, 2014, the Company disclosed that it had found "material weakness" in its internal controls. The Company stated that some timber accounted for as salable inventory was in "restricted, environmentally sensitive or economically inaccessible areas." As a result, Rayonier's consolidated financial statements for the first and second quarters of 2014 should no longer be relied on and will need to be restated.
Our investigation concerns whether: (a) the Company board of directors has breached its fiduciary duties to shareholders, grossly mismanaged the Company, and/or committed abuses of control in connection with the foregoing; and (b) the Company, or any of its officer or directors violated the federal securities laws.
If you own Rayonier shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Robert I. Harwood, Esq.
Benjamin I. Sachs-Michaels, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
Email: [email protected]
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Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.
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SOURCE Harwood Feffer LLP