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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.
In order to be eligible to join the RYAM class action lawsuit, you must have incurred a loss on shares of Rayonier Advanced Materials Inc. purchased during the class period listed above.
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