SAN DIEGO & MONTREAL, Oct. 20, 2015 /PRNewswire/ -- Shareholder rights law firm Robbins Arroyo LLP is investigating whether certain officers and directors of Resolute Forest Products, Inc. (NYSE: RFP) violated federal securities laws by issuing materially misleading business information to the investing public. Resolute Forest operates in the forest products industry in the United States, Canada, and South Korea.
View this press release on the law firm's Shareholder Rights Blog: www.robbinsarroyo.com/shareholders-rights-blog/resolute-forest-products-inc
Resolute Forest Undergoes U.S. Department of Commerce Investigation
On July 29, 2015, the U.S. Department of Commerce calculated a preliminary subsidy rate of 2.04% for Resolute Forest with respect to imports of supercalendared paper from Canada. Then, on October 15, 2015, after conducting a countervailing duty investigation, the Department of Commerce determined a final subsidy rate of 17.87% for the company. According to a Resolute Forest press release, the Department of Commerce stated that the increased subsidy rate was based on the application of "adverse facts available" and noted that Resolute Forest "did not fully cooperate with the investigation." On this news, Resolute Forest stock fell 8.2% on intraday trading on October 16, 2015, and has declined further to close at $9.36 per share on October 20, 2015.
Resolute Forest Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Darnell R. Donahue at (800) 350-6003, [email protected], or via the shareholder information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.
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SOURCE Robbins Arroyo LLP