Class Action Lawsuit Filed Against Ready Capital Corporation: What Does This Mean for Investors and the World?
On March 24, 2025, Pomerantz LLP, a leading securities law firm, announced that a class action lawsuit has been filed against Ready Capital Corporation (“Ready” or the “Company”) (NYSE:RC). The lawsuit alleges that the Company and certain of its executives violated the Securities Exchange Act of 1934 by making materially false and misleading statements and omissions regarding Ready’s business, operations, and financial condition.
Impact on Investors
The class action lawsuit may have significant implications for Ready’s investors. If the allegations are proven true, the Company may be liable for damages, including compensatory damages and potentially punitive damages. The lawsuit may also result in increased scrutiny from regulatory bodies and increased volatility in the Company’s stock price.
Impact on the World
The impact of the class action lawsuit on the world may depend on the outcome of the litigation. If the allegations are proven true, it could lead to increased regulation of the financial industry and heightened awareness of corporate governance issues. It could also potentially damage Ready’s reputation and impact investor confidence in the Company and the real estate investment trust (REIT) industry as a whole.
Details of the Lawsuit
According to the complaint, Ready and certain executives are accused of making false and misleading statements regarding the Company’s business, operations, and financial condition, including:
- Understating the impact of the COVID-19 pandemic on the Company’s business and operations
- Failing to disclose the true extent of the Company’s exposure to the commercial real estate market
- Misrepresenting the Company’s financial results and financial condition
The lawsuit seeks to recover damages on behalf of all persons or entities who purchased or otherwise acquired Ready securities between February 19, 2020 and March 23, 2025.
What Should Investors Do?
If you are a Ready investor and believe that you may be impacted by this lawsuit, you are encouraged to contact Danielle Peyton at [email protected] or 646-581-9980, toll-free, Ext. 796-1111 for more information.
Conclusion
The filing of a class action lawsuit against Ready Capital Corporation is a significant development for the Company and its investors. The allegations, if proven true, could result in significant damages and increased scrutiny for the Company. The impact on the world may depend on the outcome of the litigation, potentially leading to increased regulation and awareness of corporate governance issues. Investors who may be impacted by this lawsuit are encouraged to seek legal counsel for more information.
