Class Action Lawsuit Filed Against Ready Capital Corporation: What Does It Mean for Investors and the World?
New York, NY, March 17, 2025 – In a significant development for the financial world, Pomerantz LLP, a leading securities law firm, has announced the filing of a class action lawsuit against Ready Capital Corporation (“Ready” or the “Company”) (NYSE: RC). The lawsuit alleges that Ready and certain of its executives violated the Securities Exchange Act of 1934 by making false and misleading statements and/or failing to disclose material information to investors.
The Allegations
According to the complaint, the defendants made false and misleading statements regarding Ready’s financial condition and business prospects. Specifically, the lawsuit alleges that the defendants failed to disclose that the Company was experiencing significant declines in its loan origination volumes and that its loan portfolio was experiencing higher-than-expected charge-offs.
Implications for Investors
The filing of this class action lawsuit could have significant implications for Ready’s investors. If the allegations are proven true, investors may be entitled to damages as a result of their losses. Furthermore, the lawsuit could lead to increased scrutiny of the Company’s financial reporting and business practices, potentially leading to further declines in its stock price.
Impact on the World
The impact of this lawsuit extends beyond just Ready’s investors. The financial industry as a whole could face increased scrutiny as a result of this case. If the allegations are proven true, it could lead to increased regulation and oversight of financial institutions, potentially leading to higher costs and reduced profitability for companies in the sector.
What’s Next
The litigation process is expected to unfold over the coming months and years. Ready and its executives have denied the allegations and have stated that they will vigorously defend against the lawsuit. The outcome of the case could have significant implications for the Company, its investors, and the financial industry as a whole.
Conclusion
The filing of this class action lawsuit against Ready Capital Corporation marks a significant development in the financial world. The allegations, if proven true, could result in damages for the Company’s investors and increased scrutiny and regulation for the financial industry. As the litigation process unfolds, investors and industry observers will be closely watching for updates and developments.
- Pomerantz LLP has filed a class action lawsuit against Ready Capital Corporation
- The lawsuit alleges that Ready and certain executives made false and misleading statements
- The allegations relate to the Company’s financial condition and business prospects
- Investors could be entitled to damages if the allegations are proven true
- The litigation process is expected to unfold over the coming months and years
