Bronstein, Gewirtz & Grossman, LLC Files Class Action Lawsuit Against Ready Capital Corporation
New York, NY – April 1, 2025
Bronstein, Gewirtz & Grossman, LLC, a leading national securities fraud law firm, announces that a class action lawsuit has been filed against Ready Capital Corporation (“Ready Capital” or “the Company”) (NYSE:RC) and certain of its officers. The lawsuit, filed in the United States District Court for the Southern District of New York, alleges that the Company and its officers violated the federal securities laws.
Class Definition
The lawsuit seeks to recover damages on behalf of all persons and entities that purchased or otherwise acquired Ready Capital securities during the period from November 7, 2024 to March 2, 2025, inclusive (the “Class Period”).
Allegations
The complaint alleges that throughout the Class Period, Ready Capital and its officers made materially false and misleading statements regarding the Company’s business, operations, and financial condition. Specifically, the complaint alleges that the defendants failed to disclose:
- That the Company was experiencing significant operational challenges, including increased competition and declining loan origination volumes;
- That the Company’s loan portfolio contained a higher-than-represented number of distressed assets;
- That the Company’s financial results were negatively impacted by the decline in loan origination volumes and the increase in provisions for loan losses;
- That the Company’s financial statements were materially misstated.
As a result of defendants’ false and misleading statements, the Company’s stock traded at artificially inflated prices during the Class Period, causing investors harm.
Impact on Individual Investors
If you purchased or otherwise acquired Ready Capital securities during the Class Period and suffered a loss, you may be eligible to join this class action lawsuit as a lead plaintiff. In order to be a lead plaintiff, you must meet certain legal requirements and be among the first to file a motion with the Court requesting appointment. The lead plaintiff will represent the interests of all class members in this litigation.
Impact on the World
The filing of this class action lawsuit against Ready Capital is a significant development in the world of securities fraud litigation. It sends a clear message to publicly traded companies and their officers that they will be held accountable for making false and misleading statements regarding their business operations and financial condition. This lawsuit also serves as a reminder to investors to exercise caution when investing in securities and to be vigilant for potential signs of fraud.
Conclusion
Bronstein, Gewirtz & Grossman, LLC continues to investigate potential securities fraud class actions against companies and their officers. If you suspect that you have been the victim of securities fraud or lost money on a fraudulent investment, please contact our firm immediately. Our dedicated team of securities fraud attorneys will work to recover your losses.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. If you or someone you know has lost money due to securities fraud or breach of fiduciary duty, please contact us now to discuss your case.
