Important Information for Investors: Securities Class Action Lawsuit Filed Against Ready Capital Corporation
New York, NY and New Orleans, LA, March 17, 2025 – Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until May 5, 2025 to file lead plaintiff applications in a securities class action lawsuit against Ready Capital Corporation (the “Company”) (NYSE:RC).
The lawsuit alleges that during the Class Period, between November 7, 2024 and March 2, 2025, the Company made false and/or misleading statements and/or failed to disclose material information about the Company’s business, operations, and financial condition.
Allegations against Ready Capital Corporation
The complaint alleges that the Company made false and/or misleading statements and/or failed to disclose that:
- The Company’s business was not performing as well as represented, and it was experiencing significant declines in revenue and earnings;
- The Company’s financial statements were materially misstated, including with respect to its loan loss reserves and the collectability of its loans;
- The Company’s management was aware of these issues but failed to disclose them to investors;
- As a result of the above, the Company’s public statements were materially false and misleading at all relevant times.
Effect on Individual Investors
If you purchased shares of Ready Capital Corporation during the Class Period and have suffered a loss, you may be able to recover your loss by serving as a lead plaintiff in this class action lawsuit. Please contact KSF to discuss your rights and potential remedies.
Effect on the World
The securities class action lawsuit against Ready Capital Corporation is significant because it raises important issues regarding the accuracy of financial reporting and disclosure, and the responsibilities of companies and their management to provide truthful and transparent information to investors. This case serves as a reminder that investors rely on accurate information to make informed investment decisions, and that companies and their management must be held accountable for any misrepresentations or omissions.
Conclusion
If you purchased shares of Ready Capital Corporation between November 7, 2024 and March 2, 2025 and have suffered a loss, you may be able to recover your loss by serving as a lead plaintiff in this securities class action lawsuit. Please contact KSF to discuss your potential remedies. This case highlights the importance of accurate financial reporting and disclosure, and the responsibility of companies and their management to provide truthful and transparent information to investors.
The securities class action lawsuit against Ready Capital Corporation is ongoing, and further information will be provided as it becomes available.
