Class Action Lawsuit Filed Against Ready Capital Corporation: What Investors Need to Know
New York, NY, March 21, 2025 – Levi & Korsinsky, LLP announces that a class action lawsuit has been filed on behalf of investors in Ready Capital Corporation (“Ready Capital” or the “Company”) (NYSE: RC). The lawsuit was filed in the United States District Court for the Southern District of New York and alleges securities laws violations against the Company and certain of its top executives.
Details of the Lawsuit
The complaint alleges that throughout the class period, the defendants made materially false and misleading statements regarding the Company’s business, operational and financial metrics. Specifically, the lawsuit alleges that the defendants failed to disclose: (1) that the Company’s loan portfolio contained a significant number of distressed and non-performing loans, (2) that the Company had inadequate risk management policies and procedures in place, and (3) that as a result of the above, the Company was experiencing significant losses and declining revenues.
Impact on Individual Investors
If you invested in Ready Capital Corporation during the class period, you may be entitled to recover your losses, including damages and out-of-pocket costs. The lead plaintiff must file a motion for preliminary approval of the proposed class within sixty days from the filing date of the complaint. If the motion is granted, the class will be certified, and the case will move forward as a class action. The lead plaintiff will represent all members of the class in the lawsuit.
Impact on the Industry and the World
The class action lawsuit against Ready Capital Corporation raises concerns about the risk management practices and financial reporting of other real estate investment trusts (REITs) and financial institutions. The lawsuit highlights the importance of transparency and accurate financial reporting in the industry, particularly during times of economic uncertainty. The outcome of this lawsuit could set a precedent for future securities litigation against other companies in the sector.
Conclusion
If you invested in Ready Capital Corporation during the class period and wish to discuss your legal rights, please contact Levi & Korsinsky, LLP. Our experienced securities attorneys will provide you with a free, confidential consultation. You can reach us by calling 212-363-7576 or by completing the form on our website. The complaint in this case is not a guarantee of success, and there is no guarantee that class will be certified. However, if certified, the case may provide investors with the opportunity to recover their losses.
- Levi & Korsinsky, LLP files class action lawsuit against Ready Capital Corporation
- Allegations of securities laws violations
- Materially false and misleading statements regarding business and financial metrics
- Significant losses and declining revenues
- Lead plaintiff must file motion for preliminary approval of proposed class within 60 days
- Outcome of the lawsuit could set precedent for future securities litigation in the sector
