#United States #New York #Gross Law Firm #securities lawsuit #Ready Capital

Legal Action Against Ready Capital Corporation

In a recent development, Ready Capital Corporation (NYSE: RC) has found itself under scrutiny as a lawsuit has been filed alleging violations of securities laws. This class action suit, initiated by The Gross Law Firm, is aimed at shareholders who purchased shares between November 7, 2024, to March 2, 2025. Investors are strongly encouraged to come forward and discuss their rights before the deadline of May 5, 2025.

Allegations Against Ready Capital

The complaint against Ready Capital highlights significant concerns regarding the accuracy of financial disclosures made by the company during the specified class period. According to the allegations, the defendants, which may include executives at Ready Capital, have engaged in various misleading practices:
1. Failure to disclose the extent of non-performing loans within the company’s commercial real estate (CRE) portfolio.
2. Misrepresentation about the potential collectability of those loans, a situation that was critical for the company’s valuation and overall financial health.
3. Lack of transparency regarding the actions taken to reserve against these loans, which was purportedly done to stabilize the CRE portfolio but was not accurately reflected in financial reports.
4. A resultant adverse effect on Ready Capital’s financial performance due to these misleading practices.

The allegations suggest that the company's optimistic statements about its business operations were not based on a reasonable foundation, leading shareholders to make decisions based on incorrect information. This situation has understandably raised concerns among investors about their potential losses and the integrity of the corporate governance at Ready Capital.

Next Steps for Investors

For shareholders who feel they have been affected by these developments, it’s essential to take timely action. Investors are advised to register for this class action as soon as possible, especially if they purchased shares of Ready Capital during the specified period. Registration will allow shareholders to monitor the progress of the case and stay informed about their options, including the possibility of being appointed as lead plaintiff. However, it's important to note that appointment as lead plaintiff is not a requirement for participation in any recovery.

Interested investors can follow the link provided by The Gross Law Firm to register: Ready Capital Action Registration.

The Role of The Gross Law Firm

The Gross Law Firm is renowned for representing investors in class action lawsuits and has a mission focused on protecting the rights of investors who have suffered losses due to deceptive practices. By joining this class action, shareholders can work collectively to seek recovery for their losses, holding corporations accountable for their actions. The firm emphasizes that there are no costs involved in participating in the case.

Investors in Ready Capital Corporation must act before the deadline of May 5, 2025, to ensure their voices are heard. It serves as a crucial reminder of the importance of corporate transparency and accountability. The support from an experienced legal team can provide shareholders with the guidance they need in these challenging circumstances.

In conclusion, as this class action lawsuit progresses, all eyes will be on Ready Capital Corporation, its defense against the allegations, and the outcomes for shareholders who may have suffered losses due to misleading information. Be proactive and consult with legal experts to safeguard your investment interests.