NEW YORK, NY / ACCESSWIRE / June 1, 2024 / 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 Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether Rayonier and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On April 29, 2024, 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."
On this news, Rayonier's stock price fell $0.40 per share, or 9.69%, to close at $3.73 per share on April 30, 2024.
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SOURCE: Pomerantz LLP