Class Action Lawsuit Filed Against Ready Capital Corporation: What Does It Mean for Investors and the World?
NEW YORK, NY / ACCESS Newswire / March 10, 2025 / 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
The complaint for the class action alleges that Ready and certain of its top executives made materially false and misleading statements regarding the Company’s business, operational and financial metrics.
According to the lawsuit, the defendants failed to disclose: (1) that the Company’s mortgage origination business was experiencing significant declines; (2) that the Company was experiencing increased competition in the mortgage origination market; (3) that the Company’s mortgage servicing business was facing increased regulatory scrutiny; and (4) that the Company’s financial statements were not accurate.
Impact on Investors
The lawsuit alleges that as a result of the defendants’ misrepresentations, Ready’s stock traded at artificially inflated prices between February 1, 2023 and December 31, 2024. Investors who purchased or otherwise acquired Ready securities during this period may be entitled to recover their losses.
Impact on the World
The impact of this lawsuit on the world may not be immediate, but it could have far-reaching consequences for the financial industry, particularly for companies in the mortgage origination and servicing sectors. If the allegations in the lawsuit are proven, it could lead to increased regulatory scrutiny of these companies and potentially, stricter reporting requirements.
Furthermore, the lawsuit could also impact investor confidence in the financial industry, leading to increased caution and skepticism towards companies in the sector. It could also lead to increased volatility in the stock market, as investors re-evaluate their holdings in these companies.
Next Steps
If you are a Ready investor and believe that you may have lost money as a result of the Company’s misrepresentations or if you have information that may assist in the investigation, you are encouraged to contact Danielle Peyton at [email protected] or 646-581-9980, toll-free, Ext. 7925. The deadline for filing a claim is forthcoming.
Conclusion
The filing of this class action lawsuit against Ready Capital Corporation marks a significant development in the financial industry, and its impact on investors and the world remains to be seen. As the legal proceedings unfold, it is important for investors to stay informed and seek professional advice if they believe they may be affected.
- Pomerantz LLP files class action lawsuit against Ready Capital Corporation
- Allegations of materially false and misleading statements
- Impact on investors: potential for recovery of losses
- Impact on the world: increased regulatory scrutiny, potential for stricter reporting requirements, investor caution and skepticism
- Next steps: contact Danielle Peyton at [email protected] or 646-581-9980 for more information
