Important Information for Investors: Securities Class Action Lawsuit against Ready Capital Corporation
New York, NY and New Orleans, LA – Kahn Swick & Foti, LLC (KSF) and its 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), if they purchased the Company’s shares between November 7, 2024 and March 2, 2025, inclusive (the “Class Period”).
Background
Ready Capital Corporation is a real estate investment trust that invests in, finances, and originates commercial loans and participates in the ownership of commercial properties. The Company’s investment objective is to provide shareholders with income and, to a lesser extent, capital appreciation through investment in mortgage loans and the acquisition and ownership of commercial real estate.
The Lawsuit
The lawsuit alleges that during the Class Period, the Company made false and/or misleading statements and/or failed to disclose that: (1) the Company’s commercial real estate portfolio contained significant concentrations of distressed and underperforming assets; (2) the Company’s loan underwriting standards had deteriorated; (3) the Company’s internal controls over financial reporting were inadequate; and (4) as a result, the Company’s financial statements were materially false and misleading at all relevant times.
Impact on Investors
The securities class action lawsuit against Ready Capital Corporation could potentially result in significant damages for investors who purchased the Company’s shares during the Class Period. If the allegations in the lawsuit are proven true, investors may be able to recover their losses through the class action.
Impact on the World
The securities class action lawsuit against Ready Capital Corporation is an important reminder for investors to carefully research companies before making investment decisions. It also highlights the importance of transparency and accurate financial reporting in the business world. The outcome of the lawsuit could potentially set a precedent for similar cases in the future.
Conclusion
If you purchased Ready Capital Corporation shares between November 7, 2024 and March 2, 2025, and believe you may be impacted by the securities class action lawsuit, you may want to consider filing a lead plaintiff application before the May 5, 2025 deadline. It is important for investors to stay informed about the progress of the lawsuit and any potential developments. For more information, you can contact Kahn Swick & Foti, LLC.
- Kahn Swick & Foti, LLC:
- 1-877-515-1850
- [email protected]
