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The filed complaint alleges that Rayonier Advanced Materials Inc. made materially false and/or misleading statements and/or failed to disclose that: 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.
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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