Thieler Law Corp Announces Investigation of Resolute Forest Product Inc
Thieler Law Corp, member of the Investor Attorney Network, is investigating whether certain officers and directors of Resolute Forest Product Inc (NYSE: RFP) violated securities laws in connection with certain financial statements.
The investigation seeks to discover if possible claims on behalf of purchasers of the securities of Resolute Forest Product Inc (NYSE: RFP) concerning whether a series of statements by Resolute Forest Product Inc 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 introductory subsidy rate of 2.04% for Resolute Forest Product Inc with respect to imports of supercalendered paper from Canada. October 15, 2015, Resolute Forest Product Inc (NYSE: RFP) proclaimed that the U.S. Department of Commerce, had determined a final subsidy rate of 17.87% for the Resolute Forest Product Inc. The U.S. Department of Commerce stated that the increased subsidy rate is based on the application of "adverse facts available," stating that Resolute Forest Product Inc "did not fully cooperate with the investigation.” Once this was exposed, the company shares dropped.
Following this news, shares of Resolute Forest Product Inc (NYSE: RFP) have fallen as much as $0.63, or 6.2%, during trading on October 16, 2015.
Based in Montréal, Canada, and founded in 2007 Resolute Forest Product Inc is in the forest products industry with a wide range of products, that include newsprint, specialty papers, market pulp and wood products.
If you purchased shares of Resolute Forest Product Inc (NYSE: RFP) on or before October 16, 2015, you should contact Thieler Law Corp at mail@thielerlaw.com or call +1 (619) 377 - 4324.
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