Timber Co. Will Pay $73M To End Stock-Drop Suit

Law360, New York (April 13, 2017, 3:13 PM EDT) -- Forestry company Rayonier Inc. will pay $73 million to settle claims that it misled investors about its timber inventory and inflated its stock price until the truth came out in late 2014, according to documents filed in Florida federal court on Wednesday.

The suit came after Rayonier restated its earnings and disclosed that it had been overstating the amount of timber it could harvest and would be scaling back its logging in the Pacific Northwest to a more sustainable pace. Although the original complaint was dismissed...
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