Robbins Geller Rudman & Dowd Files Class Action Lawsuit Against Ready Capital Corporation
On April 15, 2025, Robbins Geller Rudman & Dowd LLP, a leading securities fraud law firm, announced the filing of a class action lawsuit in the Southern District of New York against Ready Capital Corporation (NYSE: RC). The complaint, captioned Quinn v. Ready Capital Corporation, alleges that Ready Capital and certain of its executives violated the Securities Exchange Act of 1934 by making false and misleading statements regarding the company’s financial condition and business prospects.
Allegations Against Ready Capital
According to the complaint, Ready Capital and its executives made materially false and misleading statements regarding the company’s financial condition and business prospects. Specifically, the complaint alleges that Ready Capital failed to disclose: (1) that the company was experiencing significant declines in origination volumes and loan quality; (2) that the company’s loan portfolio was experiencing higher than anticipated charge-offs; and (3) that the company’s financial results were being artificially inflated by the sale of loans to affiliated entities.
Impact on Individual Investors
The filing of this class action lawsuit may have significant implications for individual investors who purchased Ready Capital stock between certain dates. Specifically, these investors may be able to recover their losses if it can be shown that they relied on the false and misleading statements made by Ready Capital and its executives. The details of the proposed class will be determined by the court.
- If you purchased Ready Capital stock between the specified dates and suffered losses, you may be eligible to join the class action lawsuit.
- To be a member of the class, you must have purchased Ready Capital stock during the specified period.
- You do not need to take any action at this time, but we encourage you to contact counsel to discuss your potential recovery.
Impact on the World
The filing of this class action lawsuit against Ready Capital may have broader implications for the financial services industry and investors as a whole. Specifically, it highlights the importance of transparency and accurate financial reporting. Companies must disclose material information to investors in a timely and accurate manner. Failure to do so can result in significant financial harm to investors and erode public trust in the financial markets.
Moreover, the filing of this lawsuit may serve as a reminder to investors to carefully research companies before investing and to be vigilant for any potential red flags. It is important for investors to thoroughly review a company’s financial statements and disclosures, as well as any available news and analyst reports.
Conclusion
The filing of this class action lawsuit against Ready Capital is a significant development for investors in the financial services industry. It underscores the importance of transparency and accurate financial reporting, and serves as a reminder to investors to carefully research companies before investing. If you purchased Ready Capital stock between certain dates and suffered losses, you may be eligible to join the class action lawsuit. We encourage you to contact counsel to discuss your potential recovery.
At Robbins Geller Rudman & Dowd LLP, we are committed to fighting for the rights of individual investors and holding companies accountable for their misconduct. If you have any questions about this class action lawsuit or your potential recovery, please contact us.
