#United States #New York #Class Action #Gross Law Firm #Ready Capital

Gross Law Firm Issues Notice to Ready Capital Investors

The Gross Law Firm has officially announced a notification for shareholders of Ready Capital Corporation (NYSE: RC), urging those who purchased shares during the specified class period to take action. With a lead plaintiff deadline set for May 5, 2025, this is a crucial moment for affected investors.

Class Action Details

The class action covers shares purchased between November 7, 2024, and March 2, 2025. The lawsuit claims that during this timeframe, Ready Capital made several misleading statements and failed to disclose significant issues regarding their commercial real estate (CRE) loan portfolio. Notably, the allegations suggest that:

1. A notable amount of non-performing loans were unlikely to be collectible.
2. The company was set to fully reserve these problematic loans, supposedly to stabilize its CRE portfolio.
3. This information was not correctly represented in their expected credit loss calculations or valuation allowances.
4. Consequently, the company's financial results were likely to be negatively impacted.
5. The defendants made overly positive statements about the company's operations and business prospects, which lacked a reasonable foundation.

As a result, shareholders are encouraged to register for participation in the class action lawsuit and potentially be appointed as lead plaintiffs. However, appointment is not a prerequisite for recovering losses incurred from the alleged misconduct.

Important Dates and Registration

The deadline for registering as a lead plaintiff is May 5, 2025. Shareholders who purchased shares during the relevant period should not delay in registering their information. Interested investors can easily register through the following link:
Registration Form.

Once registered, shareholders will gain access to a portfolio monitoring tool that will provide updates on the case’s progression throughout its lifecycle. It's important to note that participation in this case comes with no cost or obligation.

Why Choose The Gross Law Firm?

The Gross Law Firm is a leading national law firm specializing in class action cases, dedicated to advocating for the rights of investors who may have suffered from fraud or dishonest business practices. The firm aims to hold companies accountable, ensuring they adhere to ethical business standards and responsible corporate governance.

Their commitment includes pursuing reparations for investors whose financial losses were unfortunately caused by misleading information or omissions of vital disclosures from companies. This approach aligns with their philosophy of fostering transparency and integrity within the financial markets.

Contact Information

Should you have any questions or need further clarification, The Gross Law Firm invites you to get in touch with them:

• - Address: 15 West 38th Street, 12th Floor, New York, NY, 10018
• - Email: [email protected]
• - Phone: (646) 453-8903

For shareholders of Ready Capital Corporation, this class action lawsuit represents an important opportunity to seek justice and financial recovery. It's crucial for investors to understand their rights, especially in light of the serious allegations against the company regarding its financial disclosures during the class period. Don't miss the chance to make your voice heard before the upcoming deadline.