| COMPANY |
Ready Capital Corporation |
| COURT |
United States District Court for the Southern District of New York |
| CASE NUMBER |
1:25-cv-01883 |
| JUDGE |
The Hon. Paul Adam Engelmayer |
| CLASS PERIOD |
November 7, 2024, through March 2, 2025 |
| SECURITY TYPE |
Common Stock |
LEAD PLAINTIFF DEADLINE IS MAY 5, 2025.
If you have suffered losses and would like to discuss your rights, please fill out this form or you may contact Jonathan Naji, Esq. at (484) 270-1453 or via e-mail at info@ktmc.com.
Case Background:
A class action lawsuit was filed on behalf of those who purchased or otherwise acquired Ready Capital Corporation (“Ready Capital”) (NYSE: RC) common stock between November 7, 2024, and March 2, 2025, inclusive (the “Class Period”).
The complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material facts about the company’s business, operations, and prospects. Specifically, Defendants misrepresented and/or failed to disclose that: (1) significant non-performing loans in Ready Capital’s commercial real estate (“CRE”) portfolio were not likely to be collectible; (2) Ready Capital would have to fully reserve these problem loans in order to “stabilize” its CRE portfolio; (3) the need to fully reserve for non-performing loans was not accurately reflected in Ready Capital’s current expected credit loss or valuation allowances, adversely impacting the company’s financial results; and (4) as a result of the foregoing, Defendants’ statements about the company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
What is a Lead Plaintiff?
A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Filling out the online form above or communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member.