NEW YORK, Nov. 28, 2014 (GLOBE NEWSWIRE) -- Rosen Law Firm reminds purchasers of the Rayonier, Inc. common stock (NYSE:RYN) between April 30, 2014 and November 10, 2014 of the important January 12, 2015 lead plaintiff deadline in the class action filed by the firm.
To join the Rayonier class action, go to the website at http://www.rosenlegal.com/cases-433.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action. The suit is pending in U.S. District Court for the Southern District of New York.
According to the lawsuit, Rayonier issued materially false and misleading financial information to investors. On November 10, 2014, Rayonier restated its interim consolidated financial statements for the quarters ended March 31, 2014 and June 30, 2014 following an internal review of its operations. The restatement is attributable to the understatement of the depletion in the cost of goods sold. As part of its internal review, the Company also determined that its internal controls were not effective as of the end of 2013. On this news, shares of Rayonier fell sharply, damaging investors.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than January 12, 2015. If you wish to join the litigation go to http://www.rosenlegal.com/cases-433.html or to discuss your rights or interests regarding this class action, please contact, Phillip Kim, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.