A settlement was reached with the defendants in the lawsuit filed on behalf of certain investors of Rayonier Inc (NYSE: RYN) over alleged securities laws violations and a deadline to submit the settlement claim is upcoming on October 13, 2017 and NYSE: RYN investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 09/27/2017 -- A deadline is coming up on October 13, 2017 in the settlement reached in the securities class action lawsuit filed on behalf of investors who purchased shares of Rayonier Inc (NYSE: RYN) between October 26, 2010 and November 7, 2014.
Investors who purchased a significant amount of shares of Rayonier Inc (NYSE: RYN) between October 26, 2010 and November 7, 2014, have certain options and should contact the Shareholders Foundation by email at mail@shareholdersfoundation.com or call 858-779-1554.
The settlement proof of claim form or detailed settlement notice for the settlement in the Rayonier Inc (NYSE: RYN) Investor Securities Class Action Lawsuit can be downloaded at: http://shareholdersfoundation.com/case/rayonier-inc-nyse-ryn-investor-securities-class-action-lawsuit-11122014
In order to submit a claim an investor has to submit the claim proof to the class action claim administrator in a timely manner. The deadline to submit the proof with the class administrator is October 13, 2017. The class action administrator for this case is Epiq Systems.
The lawsuit was originally filed in the U.S. District Court for the Southern District of New York against Rayonier Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between April 30, 2014 and November 10, 2014.
According to the complaint the plaintiff alleges on behalf of purchasers of Rayonier Inc (NYSE: RYN) common shares between April 30, 2014 and November 10, 2014, that the defendants violated Federal Securities Laws.
Shares of Rayonier Inc (NYSE: RYN) grew from $38.25 per share in November 2011 to as high as $60.31 per share in May 2013. Since then NYSE: RYN shares lost substantial value.
In January 2014 Rayonier Inc announced its fourth quarter and full year 2013 results. Rayonier Inc reported that its annual Total Revenue rose from over $1.48 billion in 2012 to over $1.7 billion in 2013 and that its Net Income increased from $278.69 million in 2012 to $371.90 million in 2013. Among other things, Rayonier Inc also announced that that it intends to separate the Performance Fibers business from the Forest Resources and Real Estate businesses.
In April 2014 Rayonier Inc reported its first quarter financial results. Rayonier Inc announced that that its first quarter Revenue declined from $393.70 million in 2013 to $386.7 million in 2014 and that its first quarter Net Income declined from $147.7 million in 2013 to $43.3 million in 2014. Rayonier Inc also said that the Company is on track to complete the separation of its Performance Fibers business, which will be named Rayonier Advanced Materials, by mid-2014.
In late June 2014 Rayonier Inc announced that on June 27, 2014, it completed the spin-off of Rayonier Advanced Materials Inc. (NYSE: RYAM), which is now a new independent specialty chemicals company.
In late July 2014 Rayonier Inc reported its second quarter financial results. Rayonier Inc announced that its second quarter Revenue increased from $154.9 million in 2013 to $163.1 million in 2014 while its second quarter Net Income declined from $87.9 million in 2013 to $18.1 million in 2014.
Then on November 10, 2014, Rayonier Inc announced its third quarter financial results. Among other things, Rayonier Inc reported that its third quarter Revenue declined from $159.3 million in 2013 to $149.8 million in 2014 and that its third quarter Net Income declined from $58.4 million in 2013 to $32.1 million in 2014. Rayonier Inc also announced that it restates its financial results for the first and second quarters of 2014 to correct understatements in depletion expense and corresponding overstatements in income from continuing operations.
Shares of Rayonier Inc (NYSE: RYN) declined to as low as $25.90 per share on November 12, 2014.
On November 12, 2014, Rayonier Inc (NYSE: RYN) shares closed at $26.10 per share.
Rayonier Inc engages in the sale and development of real estate and timberland management, as well as in the production and sale of cellulose fibers in the United States, New Zealand, and Australia.
Those who purchased shares of Rayonier Inc (NYSE: RYN) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com