RYN SHAREHOLDER ALERT: LEVI & KORSINSKY, LLP Reminds Investors of Class Action Against Rayonier, Inc. & Its Board of Director...
17 Dezembro 2014 - 3:05PM
Business Wire
Levi & Korsinsky announces that a class action lawsuit has
been commenced in the United States District Court for the Middle
District of Florida on behalf of investors who purchased Rayonier,
Inc. (“Rayonier” or the “Company”) (NYSE: RYN) securities between
April 29, 2014 and November 10, 2014. The complaint alleges that
Rayonier made materially false and misleading statements regarding
the Company’s business, operational and compliance policies.
For more information, click here:
http://zlk.9nl.com/rayonier-ryn.
On November 3, 2014, the Company announced in an SEC filing that
it had understated its depletion expense in cost of goods sold by
approximately $2 million for the periods ended March 31, 2014 and
June 30, 2014. As a result of this understatement, the Company
further acknowledged a corresponding overstatement in those periods
of income for continuing operations of $1.9 million and $2 million
respectively. The Company cited a “material weakness in Rayonier’s
internal controls related to merchantable timber inventory” as the
overstatements’ cause.
If you suffered a loss in Rayonier you have until January 12,
2015 to request that the Court appoint you as lead plaintiff. Your
ability to share in any recovery doesn’t require that you serve as
a lead plaintiff. To obtain additional information, contact Joseph
E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at
(212) 363-7500, toll-free: (877) 363-5972, or visit
http://zlk.9nl.com/rayonier-ryn.
Levi & Korsinsky is a national firm with offices in New
York, New Jersey, Connecticut, and Washington D.C. The firm’s
attorneys have extensive expertise in prosecuting securities
litigation involving financial fraud, representing investors
throughout the nation in securities and shareholder lawsuits.
Attorney advertising. Prior results do not guarantee similar
outcomes.
Levi & Korsinsky, LLPJoseph Levi, Esq.Eduard Korsinsky,
Esq.Tel: (212) 363-7500Toll Free: (877) 363-5972Fax: (866)
367-6510www.zlk.com
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