Important Information for Investors: Deadline Approaching for those who Purchased Ready Capital Corporation Stock during a Specific Period
On March 7, 2025, Robbins Geller Rudman & Dowd LLP, a leading securities law firm, announced that purchasers or acquirers of Ready Capital Corporation (Ready Capital) common stock during the period from November 7, 2024 to March 2, 2025, inclusive (the “Class Period”), have until May 5, 2025 to seek appointment as lead plaintiff in a securities class action lawsuit (Quinn v. Ready Capital Corporation et al., 2:25-cv-00361-WQH-AGR, Southern District of California).
About the Lawsuit
The lawsuit alleges that Ready Capital and certain of its top executives violated the Securities Exchange Act of 1934 by making materially false and misleading statements regarding the company’s financial condition and business prospects. Specifically, the complaint alleges that defendants made false and/or misleading statements and/or failed to disclose that:
- Ready Capital had significant exposure to the commercial real estate market, which was experiencing a downturn;
- The company’s financial statements did not accurately reflect the impact of the economic downturn on its business;
- The company’s internal controls were inadequate;
- The company’s revenue growth was not sustainable;
What this Means for Individual Investors
If you purchased or acquired Ready Capital common stock during the Class Period, you may be entitled to compensation. The lead plaintiff is a court-appointed representative for all investors in the lawsuit. The lead plaintiff works with the law firm to represent the interests of the class and manage the litigation. If you wish to serve as the lead plaintiff, you must apply to the court before the lead plaintiff is appointed. You do not need to seek appointment as a lead plaintiff to participate in the case. If you are a class member and do nothing, you will remain an absent class member.
Implications for the World
This lawsuit is a reminder of the importance of accurate financial reporting and corporate transparency. Investors rely on honest and complete information when making investment decisions. Misrepresentations and omissions can result in significant financial losses for individual investors and can erode public trust in the financial markets. The securities class action lawsuit process provides a mechanism for investors to seek redress when they have been harmed by such misconduct.
Conclusion
If you purchased Ready Capital common stock during the Class Period and believe you have been harmed by the alleged misconduct, you may be entitled to compensation. The deadline to seek appointment as lead plaintiff in the Quinn v. Ready Capital Corporation lawsuit is May 5, 2025. For more information, please contact Robbins Geller Rudman & Dowd LLP.
This lawsuit also highlights the importance of accurate financial reporting and corporate transparency. Misrepresentations and omissions can have far-reaching consequences, affecting not only individual investors but also the broader financial markets. It is crucial that companies provide complete and truthful information to their investors to maintain trust and confidence in the financial markets.
