Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Ready Capital Corporation (NYSE: RC) securities.
If you suffered a loss on your Ready Capital investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Aug 08 2024 - Mar 02 2025
CASE DETAILS: The filed complaint alleges that Ready Capital Corporation made materially false and/or misleading statements and/or failed to disclose that: (1) significant non-performing loans in its CRE portfolio were not likely to be collectible; (2) Ready Capital would fully reserve these problem loans in order to “stabilize” its CRE portfolio; (3) this was not accurately reflected in Ready Capital’s current expected credit loss or valuation allowances; (4) as a result, the Company’s financial results would be adversely affected; and (5), as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
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