Important Information for Investors: Rosen Law Firm Reminds Purchasers of Ready Capital Corporation (RC) Stock of Upcoming Deadline
New York, NY – Rosen Law Firm, a global investor rights law firm, is reminding purchasers of Ready Capital Corporation (NYSE: RC) common stock between November 7, 2024 and March 2, 2025, both dates inclusive (the “Class Period”), of the important May 5, 2025 lead plaintiff deadline. The lawsuit seeks to recover damages for Ready Capital investors under the Securities Exchange Act of 1934.
What is the Class Action Lawsuit About?
The complaint alleges that during the Class Period, Ready Capital Corporation made materially false and misleading statements regarding its business, operational and financial results. Specifically, the lawsuit alleges that the defendants made false statements and failed to disclose that:
- Ready Capital was experiencing significant declines in its loan origination volume and quality;
- The Company’s loan portfolio was experiencing increased loan delinquencies and charge-offs;
- Ready Capital was experiencing increased competition and declining spreads;
- The Company’s financial statements were not being fairly presented in accordance with GAAP;
As a result of these alleged false statements, Ready Capital Corporation’s common stock traded at artificially inflated prices during the Class Period.
What Does This Mean for Me?
If you purchased Ready Capital Corporation common stock during the Class Period, you may be entitled to compensation without payment of any out-of-pocket fees or costs through a contingency fee arrangement. The lead plaintiff is the representative party in the class action and manages the litigation on behalf of the entire class. If the court certifies the class, every class member will be entitled to share in the settlement proceeds.
What Does This Mean for the World?
The impact of this class action lawsuit extends beyond just the investors of Ready Capital Corporation. It serves as a reminder of the importance of transparency and accuracy in financial reporting. Companies have a responsibility to provide truthful information to their investors, and failure to do so can result in significant consequences.
Moreover, class action lawsuits like this one play a crucial role in holding corporations accountable for their actions. They provide a platform for investors to seek redress for their losses and can lead to improvements in corporate governance and business practices.
Conclusion
If you purchased Ready Capital Corporation common stock between November 7, 2024 and March 2, 2025, and believe that you may have lost money as a result of the alleged false statements made during the Class Period, you may be entitled to compensation. The May 5, 2025 lead plaintiff deadline is approaching, so it is important to act now. Contact Rosen Law Firm today to discuss your potential recovery options.
The allegations in this lawsuit serve as a reminder of the importance of transparency and accuracy in financial reporting. Companies have a responsibility to provide truthful information to their investors, and failure to do so can result in significant consequences. As investors, it is essential to stay informed and take action when necessary to protect our investments and hold corporations accountable for their actions.
