Important Information for Investors: Deadline Reminder for Ready Capital Corporation Securities Class Action Lawsuit
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 on the Lawsuit
The lawsuit alleges that the Company and certain of its executives made false and/or misleading statements and/or failed to disclose that:
- The Company was experiencing significant issues with its mortgage servicing operations, including delays in processing loan modifications and foreclosures, which was leading to increased costs and regulatory scrutiny;
- The Company’s financial statements for the periods in question contained material misstatements and omissions;
- The Company’s internal controls over financial reporting were inadequate;
Impact on Individual Investors
If you purchased shares of Ready Capital Corporation during the Class Period, you may be able to recover your losses through the securities class action lawsuit. The lead plaintiff will act on behalf of all other class members in managing the litigation. If a settlement is reached, the lead plaintiff will typically receive a significant portion of the proceeds. Class members who do not wish to serve as lead plaintiff may still participate in the recovery of any settlement or judgment.
Impact on the World
The securities class action lawsuit against Ready Capital Corporation is an important step in holding the Company and its executives accountable for any misrepresentations made to investors. Securities class action lawsuits serve as a deterrent to corporations and their executives from engaging in fraudulent or deceptive practices. The lawsuit also provides a means for investors to recover their losses and seek justice.
Conclusion
If you purchased shares of Ready Capital Corporation during the Class Period and believe you may be impacted by the securities class action lawsuit, it is important to take action before the May 5, 2025 lead plaintiff application deadline. Kahn Swick & Foti, LLC and its partner, former Attorney General of Louisiana, Charles C. Foti, Jr., are committed to helping investors recover their losses and seek justice. For more information, you can contact KSF at 1-877-515-1850 or email [email protected].
This communication should not be construed as legal advice. It is for informational purposes only. Although the information in this press release is believed to be accurate, there may be errors in typography, calculation, or transmission which are not intended to be binding.
About Kahn Swick & Foti, LLC
Kahn Swick & Foti, LLC (KSF) is a law firm focused on securities, antitrust, and consumer class actions, along with merger & acquisition and securities litigation and counseling for both plaintiffs and defendants. KSF has offices in New York, New Jersey, California, Maryland, Virginia, Louisiana, and Texas.
About Charles C. Foti, Jr.
Charles C. Foti, Jr. is the founder and managing member of KSF and has been practicing law since 1995. He has focused on securities, antitrust, and consumer class actions throughout his career. Mr. Foti has been named a Leading Plaintiff-Side Attorney in Securities Litigation by Lawdragon and a Trailblazer in Securities Litigation by the National Law Journal.
