NEW YORK, Sept. 14, 2017 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Rayonier Advanced Materials Inc. ("Rayonier" or the "Company") (NYSE: RYAM). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether Rayonier and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On August 18, 2015, Rayonier informed investors that the Company had filed an action against Eastman Chemical Company ("Eastman"), a significant customer of Rayonier, regarding its "chemical cellulose specialty products contract with Eastman." On August 19, 2015, Rayonier issued a press release further explaining the dispute with Eastman. Specifically, the press release stated that the language in the contract at issue involved the "meet or release" provisions of the agreement, which allow Eastman to obtain "third party offers that meet the requirements of the Supply Agreement [with the Company] for similar cellulose specialties products, and would require [Rayonier] to either meet such price or release the volume, thereby allowing Eastman to purchase the volume from the third party." In addition, the press release disclosed that on August 12, 2017, Eastman had filed an action against Rayonier regarding the same "meet or release" provisions in their contract.
On this news, Rayonier's share price fell $6.01, or 44.09%, to close at $7.62 on August 19, 2015.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
SOURCE Pomerantz LLP