Important Information for Investors: Class Action Lawsuit Filed Against Ready Capital Corporation
SAN DIEGO, CA – March 25, 2025
The law firm of Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Ready Capital Corporation (Ready Capital) common stock between November 7, 2024 and March 2, 2025, inclusive (the “Class Period”), have until Monday, May 5, 2025 to seek appointment as lead plaintiff in a class action lawsuit captioned Quinn v. Ready Capital Corporation. The lawsuit alleges that the Company and certain of its executives violated the Securities Exchange Act of 1934.
What is the Class Action Lawsuit About?
The lawsuit alleges that Ready Capital and its executives made false and misleading statements regarding the Company’s financial condition and business prospects. Specifically, the complaint alleges that Ready Capital misrepresented its loan portfolio quality and the level of potential loan losses, among other things. These allegedly false statements were made in various filings with the Securities and Exchange Commission (SEC) and public statements made by the Company and its executives.
Who is Affected by the Class Action Lawsuit?
The lawsuit seeks to represent a class of purchasers or acquirers of Ready Capital common stock during the Class Period. If you purchased or acquired Ready Capital common stock during the Class Period, you may be a member of the class. To be eligible for appointment as lead plaintiff, you must meet certain requirements and have incurred damages as a result of the alleged securities law violations.
What Should I Do if I Purchased Ready Capital Stock During the Class Period?
If you purchased or acquired Ready Capital common stock during the Class Period and wish to serve as lead plaintiff in the lawsuit, you must apply to the Court no later than May 5, 2025. You do not need to retain an attorney to be a lead plaintiff, but you must meet certain requirements and have incurred damages as a result of the alleged securities law violations. If you wish to serve as a lead plaintiff, you can contact the Robbins Geller Rudman & Dowd LLP law firm at (800) 449-4900 or (619) 231-1058, or you can complete the form on the firm’s website: www.rgrdlaw.com/cases/ready-capital-corporation-rc-class-action-lawsuit.html
How Will This Affect Me?
If you purchased Ready Capital common stock during the Class Period and the allegations in the lawsuit are proven true, you may be able to recover damages as a result. The extent of your damages will depend on the specific circumstances of your investment in Ready Capital. The lead plaintiff in the lawsuit will play a significant role in shaping the direction of the litigation and may be entitled to additional compensation or benefits.
How Will This Affect the World?
The outcome of the lawsuit could have significant implications for the financial industry, particularly for companies in the mortgage real estate investment trust (REIT) sector. If the allegations in the lawsuit are proven true, it could lead to increased scrutiny of other companies in the sector and potentially result in stricter regulations or enforcement actions. It could also impact investor confidence in the sector and lead to increased volatility in the stock market.
Conclusion
If you purchased Ready Capital common stock during the Class Period, you may be eligible to participate in the class action lawsuit against the Company. The lawsuit alleges that Ready Capital and its executives made false and misleading statements regarding the Company’s financial condition and business prospects. If you wish to serve as lead plaintiff in the lawsuit, you must apply to the Court by May 5, 2025. The outcome of the lawsuit could have significant implications for the financial industry and potentially result in increased scrutiny and regulations in the sector.
For more information about the Ready Capital class action lawsuit, please contact the Robbins Geller Rudman & Dowd LLP law firm at (800) 449-4900 or (619) 231-1058, or visit the firm’s website at www.rgrdlaw.com/cases/ready-capital-corporation-rc-class-action-lawsuit.html
