NEW YORK, June 12, 2015 /PRNewswire/ -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of Rayonier Advanced Materials, Inc. (NYSE: RYAM) between June 30, 2014 and January 28, 2015.
You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Middle District of Florida. If you purchased or otherwise acquired Rayonier Advanced Materials, Inc. ("RYAM") securities between June 30, 2014 and January 28, 2015, your rights may be affected by this action. To get more information go to:
or contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
RYAM previously existed as the Performance Fibers Division of Rayonier, Inc. Then on January 27, 2014, Rayonier announced it would spin-off this Division. The complaint alleges, among other allegations, that during the Class Period and at the time of the Separation: (a) the Company improperly recorded and/or failed to record on its publicly issued financial statements material liabilities for environmental remediation and related obligations in violation of Generally Accepted Accounting Principles; and (b) the Company failed to provide sufficient disclosure to investors to permit a meaningful evaluation of the true scope and extent of these environmental remediation and related liabilities.
If you suffered a loss in RYAM you have until July 6, 2015to 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.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Eduard Korsinsky, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free:(877) 363-5972 Fax: (212) 363-7171 www.zlk.com