NEW YORK, Dec. 31, 2014 (GLOBE NEWSWIRE) -- The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the USDC 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.
Click here to learn about the case: http://docs.wongesq.com/RYN-Info-Request-Form-547. There is no cost or obligation to you.
The complaint alleges that the Company made false and/or misleading statements regarding the Company's business, operational, and compliance policies.
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 Vincent Wong, Esq. either via email vw@wongesq.com, by telephone at 212.425.1140, or visit http://docs.wongesq.com/RYN-Info-Request-Form-547.
Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.