Investors of Ready Capital Corporation Sue Over Securities Fraud Claims

In a significant development for investors and stakeholders, Glancy Prongay & Murray LLP has announced that individuals who suffered financial losses due to their investments in Ready Capital Corporation can take the lead in a class-action lawsuit concerning alleged securities fraud. This opportunity is open to those who invested in the company through the recent periods, with a deadline to participate set for May 5, 2025.

Background of the Case

The lawsuit claims that from November 7, 2024, to March 2, 2025, the defendants, including key executives of Ready Capital, failed to disclose vital information affecting the company's financial health. Investors argue that they were misled about the company's stability and financial condition based on a lack of transparency regarding certain non-performing loans within its commercial real estate (CRE) portfolio. It is alleged that these loans were not likely to be collectible, contradicting the company's positive outlook shared with investors.

The complainants assert that Ready Capital intentionally concealed the extent of these uncollectible loans. They claim that the company decided to reserve these problem loans to 'stabilize' its CRE portfolio without disclosing this move's implications, leading to a misrepresentation of its financial results. Investors maintain that such actions constitute securities fraud, as the defendants' statements about the company’s business only painted an optimistic picture, which was not backed by factual data.

Importance for Investors

For investors affected by these misleading statements, this lawsuit represents a significant opportunity to seek recompense for their losses. Many individuals may feel discouraged after facing financial setbacks, especially when they invested based on the company’s guidance. However, participating in this class-action lawsuit may provide a means to hold the company accountable for any potential wrongdoing.

Those considering involvement in the lawsuit should ensure they contact Glancy Prongay & Murray LLP at their Los Angeles office for further details or clarifications regarding the lawsuit. The firm emphasizes that potential class members need not take immediate action but should understand their rights and explore whether they wish to retain personal counsel or join the action as part of the plaintiff representation.

Participating in the Lawsuit

This class-action lawsuit provides a platform for investors who had previously put their trust in Ready Capital Corporation to reclaim their investments. Glancy Prongay & Murray LLP encourages those eligible to seize this opportunity, especially given the outlined deadline of May 5, 2025.

As investors reflect on past experiences, the unfolding of this lawsuit underscores the need for transparency and accountability in the corporate sector. It serves as a reminder for investors to remain vigilant and informed about the companies in which they are investing and the representations those companies make regarding their financial health.

Contact Information

For more information about the lawsuit, including how to participate, potential plaintiffs can reach out to:

Charles Linehan, Esq.
Glancy Prongay & Murray LLP
1925 Century Park East, Suite 2100
Los Angeles, CA 90067
Email: info@glancylaw.com
Phone: 310-201-9150
Toll-Free: 888-773-9224
Visit: www.glancylaw.com

It's crucial for all investors involved to remain proactive about their legal rights and opportunities, especially in situations as complex and potentially detrimental as this. By joining together in a class-action lawsuit, investors can enhance their chances of receiving justice for their claims against Ready Capital Corporation.