Pomerantz LLP is investigating claims on behalf of investors of Rayonier Advanced Materials Inc. ("Rayonier" or the "Company") RYAM. Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether Rayonier and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On October 14, 2024, Rayonier issued a press release "report[ing] that an isolated fire occurred at its Jesup, Georgia facility on October 11 at approximately 6 p.m. during planned maintenance activity[,]" advising that "[w]hile the plant's C line operations have resumed, the A and B lines will remain offline for repairs with a target start date the week of October 28. Rayonier stated that "[w]hile the Company continues to assess the financial cost of the incident, the EBITDA impact is currently expected to be in the range of $15 to $20 million, subject to any potential insurance recovery."
On this news, Rayonier's stock price fell $0.81 per share, or 9.05%, to close at $8.14 per share on October 14, 2024.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
