Deadline Approaches for Shareholders in Ready Capital Class Action Lawsuit Against RC

Ready Capital Lawsuit Alert: Key Details for Investors

In a recent development that has implications for many investors, ClaimsFiler, a well-known shareholder information service, has issued a reminder regarding the deadline for those invested in Ready Capital Corporation (NYSE: RC). If you've suffered losses exceeding $100,000 from your investments in this company, it's crucial to pay attention to the upcoming deadline.

The deadline for filing lead plaintiff applications in a securities class action lawsuit against Ready Capital is set for May 5, 2025. This lawsuit pertains to investors who purchased shares between November 7, 2024, and March 2, 2025.

Understanding the Lawsuit

The primary allegation against Ready Capital and some of its executives is that they failed to disclose material financial information during the specified timeframe, thereby violating federal securities laws. Notably, on March 3, 2025, the company disclosed distressing financial results for the fourth quarter of 2024, reporting a shocking quarterly net loss of $1.80 per share and a full-year net loss of $2.52 per share. These results stemmed from necessary actions the company took to stabilize its financial position by fully reserving for nonperforming loans within its commercial real estate portfolio.

The revelation led to an alarming decline in Ready Capital's stock price, which plummeted by over 26%, closing at $5.07 per share on the day of the announcement. This sudden drop underscored the seriousness of the situation and triggered investor concern, as many were unaware of the company's financial struggles prior to the announcement.

Who Can File a Claim?

Investors who bought shares during the class period and faced significant financial losses are eligible to file for lead plaintiff status. ClaimsFiler encourages affected parties to visit their website or contact them at the toll-free number (844) 367-9658 for assistance. The lawyers at Kahn Swick Foti, LLC are available to guide investors through their legal options effectively.

About ClaimsFiler

ClaimsFiler's mission is clear: to provide retail investors with the necessary information to reclaim a portion of the billions of dollars set aside for securities class action settlements. On their platform, investors can register for free, gain access to various securities class action cases, submit their claims in a timely manner, and even upload their portfolio transactions. This service aims to ensure that investors can stay informed about lawsuits that may affect their financial interests.

If you've been impacted by your investment in Ready Capital, now is the time to act. The filing for lead plaintiff status could potentially help you recover some of your losses. For more information about the class action lawsuit and your eligibility, please take time to visit ClaimsFiler for complete details and guidance on the next steps.

Future Implications

As the legal proceedings continue, investors will need to stay updated on the case's progress. The outcome may set a precedent for how similar cases are handled in the future, particularly around shareholder transparency and the obligations of publicly traded companies to disclose critical financial information promptly. Investors are advised to keep a close eye on developments related to the lawsuit in the coming months, especially as the deadline progresses.

In summary, if you are a shareholder of Ready Capital who has experienced significant financial setbacks, seize this opportunity to protect your interests. The next steps taken could lead to recovering some, if not all, of your losses.