NEW YORK, Dec. 5, 2014 /PRNewswire/ -- 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.
CONTACT:
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY
10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (866) 367-6510
www.zlk.com
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SOURCE Levi & Korsinsky, LLP