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.
Rayonier issued a press release “announc[ing] that, effective July 2, 2024, it will suspend operations at its Temiscaming High Purity Cellulose (HPC) plant for an indefinite period. Rayonier stated that “[g]iven current market conditions and high capital and fixed costs associated with the HPC plant, this decision will help mitigate the plant’s ongoing operating losses and improve the Company’s consolidated free cash flow.” Following this news, Rayonier’s stock price dropped over 8% on April 30, 2024.
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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