Levi & Korsinsky notifies investors that it has commenced an investigation into Rayonier Advanced Materials Inc. (NYSE: RYAM) concerning potential violations of the federal securities laws.
On October 14, 2024, Rayonier issued a press release "report[ing] that an isolated fire occurred at its Jesup, Georgia facility on October 11 at approximately 6 p.m. during planned maintenance activity[,]" advising that "[w]hile the plant's C line operations have resumed, the A and B lines will remain offline for repairs with a target start date the week of October 28. Rayonier stated that "[w]hile the Company continues to assess the financial cost of the incident, the EBITDA impact is currently expected to be in the range of $15 to $20 million, subject to any potential insurance recovery." Following this news, Rayonier's stock price fell over 9% on the same day.
If you suffered a loss on your Rayonier Advanced Materials Inc. securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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