An investigation for investors in Resolute Forest Products Inc (NYSE:RFP) shares over potential securities laws violations by Resolute Forest Products was announced and NYSE:RFP stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 11/04/2015 -- An investigation for shareholders in NYSE:RFP shares over potential securities laws violations by Resolute Forest Products in connection certain financial statements was announced.
Investors who purchased shares of Resolute Forest Products Inc (NYSE:RFP), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The investigation by a law firm focuses on whether certain statements by Resolute Forest Products regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On July 29, 2015, the U.S. Department of Commerce calculated a preliminary subsidy rate of 2.04% for Resolute Forest Products Inc with respect to imports of super calendered paper from Canada.
Then, on October 15, 2015, Resolute Forest Products Inc announced that the U.S. Department of Commerce, after concluding a countervailing duty investigation, had determined a final subsidy rate of 17.87% for Resolute Forest Products Inc, and rates of 20.18% for Port Hawkesbury Paper LP and 18.85% for all other producers/exporters in Canada.
U.S. Department of Commerce stated that the increased subsidy rate is based on the application of "adverse facts available," saying Resolute Forest Products Inc "did not fully cooperate with the investigation."
On October 16, 2015, R Resolute Forest Products Inc responded to the Department of Commerce's determination, announcing an intent to "strongly defend" its position.
Resolute Forest Products Inc reported that its annual Total Revenue declined from over $4.46 billion in 2013 to over $4.25 billion in 2014 while its respective Net Loss declined from $639 million to $277 million.
Shares of Resolute Forest Products Inc (NYSE:RFP) declined from over $19 per share in February 2015 to as low as $8.13 per share on October 2, 2015.
On November 3, 2015, NYSE:RFP shares closed at $7.46 per share.
Those who purchased shares of Resolute Forest Products Inc 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