Investors Alert: Legal Action Against Ready Capital Corporation for Securities Fraud Allegations
On March 31, 2025, Pomerantz LLP made a significant announcement regarding the filing of a class action lawsuit against Ready Capital Corporation, trading under the ticker symbol "RC" on the NYSE. This legal action comes in response to serious allegations of securities fraud and other unlawful business practices involving the company and some of its executives. The firm has called upon investors who suffered financial losses in relation to their transactions involving Ready Capital to make their voices heard by contacting them promptly. The deadline for potential plaintiffs to step forward and request to be appointed as Lead Plaintiff in this case is fast approaching, with the cutoff set for May 5, 2025. This urgent call to action serves as a reminder for investors to reclaim their rights and seek justice through the legal system.
The catalyst for this class action lawsuit was Ready Capital's alarming financial performance announcement. On March 3, 2025, the company disclosed fourth quarter and overall annual results for 2024, revealing a staggering net loss of $1.80 per share for the last quarter and a total net loss of $2.52 per share for the entire year. These figures were indicative of the company's difficult financial standing, prompting an urgent need for strategic measures to stabilize their balance sheet. Ready Capital detailed various actions taken to safeguard their financial health, including a substantial reserve for nonperforming loans within its commercial real estate (CRE) portfolio. To account for these losses, they reported $284 million in combined Current Expected Credit Loss (CECL) and valuation allowances. Furthermore, Ready Capital indicated a troubling increase in total leverage, which rose to 3.8x compared to the preceding quarter’s 3.3x.
In response to the unveiling of this dismal financial outlook, Ready Capital's stock experienced a precipitous decline, plummeting by $1.86 per share, equating to a notable 26.84% drop, which left shares closing at $5.07 on March 3, 2025. This sharp decline in stock value understandably raised concerns among investors regarding the company's leadership and their fiduciary duties. The allegations suggest potential negligence or misconduct by the company's officers and directors, which is precisely the focus of this ongoing litigation. Investors who believe they have been adversely affected by these circumstances are encouraged to take action lest they miss out on the opportunity to participate in the class action suit.
Pomerantz LLP is recognized as a leading firm specializing in corporate, securities, and antitrust class litigation. They have built a strong reputation over the past 85 years, advocating for victims of securities fraud and other corporate misconduct. Their founder, Abraham L. Pomerantz, is celebrated for his pioneering work in securities class actions, and his legacy continues to influence the firm's commitment to protecting investor rights. The firm has successfully recovered substantial damages on behalf of class members in various high-profile cases, making them a formidable ally for any investor seeking justice.
For investors wishing to learn more about joining the class action lawsuit against Ready Capital Corporation, they can easily access detailed information by visiting Pomerantz's official website. It is crucial to act now and seize this opportunity, as the legal landscape can evolve rapidly, and deadlines are stringent. Any individual interested in pursuing this matter should promptly contact Danielle Peyton through the provided email or phone number, ensuring to include their contact details and information related to their investments.
As this situation continues to develop, investors are urged to remain vigilant and proactive in protecting their financial interests. The outcome of this legal action could have significant implications for both the future of Ready Capital and those who have invested in its securities. Stay informed and take action, as the clock is ticking for affected investors to assert their rights and seek rightful compensation.
The catalyst for this class action lawsuit was Ready Capital's alarming financial performance announcement. On March 3, 2025, the company disclosed fourth quarter and overall annual results for 2024, revealing a staggering net loss of $1.80 per share for the last quarter and a total net loss of $2.52 per share for the entire year. These figures were indicative of the company's difficult financial standing, prompting an urgent need for strategic measures to stabilize their balance sheet. Ready Capital detailed various actions taken to safeguard their financial health, including a substantial reserve for nonperforming loans within its commercial real estate (CRE) portfolio. To account for these losses, they reported $284 million in combined Current Expected Credit Loss (CECL) and valuation allowances. Furthermore, Ready Capital indicated a troubling increase in total leverage, which rose to 3.8x compared to the preceding quarter’s 3.3x.
In response to the unveiling of this dismal financial outlook, Ready Capital's stock experienced a precipitous decline, plummeting by $1.86 per share, equating to a notable 26.84% drop, which left shares closing at $5.07 on March 3, 2025. This sharp decline in stock value understandably raised concerns among investors regarding the company's leadership and their fiduciary duties. The allegations suggest potential negligence or misconduct by the company's officers and directors, which is precisely the focus of this ongoing litigation. Investors who believe they have been adversely affected by these circumstances are encouraged to take action lest they miss out on the opportunity to participate in the class action suit.
Pomerantz LLP is recognized as a leading firm specializing in corporate, securities, and antitrust class litigation. They have built a strong reputation over the past 85 years, advocating for victims of securities fraud and other corporate misconduct. Their founder, Abraham L. Pomerantz, is celebrated for his pioneering work in securities class actions, and his legacy continues to influence the firm's commitment to protecting investor rights. The firm has successfully recovered substantial damages on behalf of class members in various high-profile cases, making them a formidable ally for any investor seeking justice.
For investors wishing to learn more about joining the class action lawsuit against Ready Capital Corporation, they can easily access detailed information by visiting Pomerantz's official website. It is crucial to act now and seize this opportunity, as the legal landscape can evolve rapidly, and deadlines are stringent. Any individual interested in pursuing this matter should promptly contact Danielle Peyton through the provided email or phone number, ensuring to include their contact details and information related to their investments.
As this situation continues to develop, investors are urged to remain vigilant and proactive in protecting their financial interests. The outcome of this legal action could have significant implications for both the future of Ready Capital and those who have invested in its securities. Stay informed and take action, as the clock is ticking for affected investors to assert their rights and seek rightful compensation.
Topics Financial Services & Investing）
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