Investor Alert: Class Action Filed Against Ready Capital Corporation with Important Deadlines

Investor Alert: Class Action Filed Against Ready Capital Corporation

Pomerantz LLP has announced that a class action lawsuit has been initiated against Ready Capital Corporation, trading under the ticker symbol RC on the NYSE. This news is particularly relevant for investors who have incurred losses related to their investments in Ready Capital. Individuals who believe they might qualify as class members are urged to act promptly, as key deadlines are approaching.

Important Information for Investors

Investors who purchased or acquired Ready Capital securities during the designated period are encouraged to contact Danielle Peyton from Pomerantz for guidance on becoming involved in the lawsuit. Those wishing to get in touch can reach her via email at [email protected] or by calling 646-581-9980, or toll-free at 888.4-POMLAW. When reaching out, investors are advised to include their mailing address, phone number, and details regarding the number of shares acquired.

The class action centers around serious allegations of securities fraud involving Ready Capital and certain members of its executive team. As per the latest reports, the company faced significant financial losses, with a net loss of $1.80 per share in the fourth quarter of 2024, alongside a full-year net loss of $2.52 per share. Such adverse financial results compelled the company to undertake significant actions aimed at stabilizing its balance sheet, which notably included full reserves for nonperforming loans within its commercial real estate portfolio.

On March 3, 2025, following the release of disappointing financial data, Ready Capital’s stock plummeted by approximately 27%, reflecting deep investor concerns about the company's future performance and potential wrongdoing. The firm's total leverage also saw a concerning increase to 3.8 times, in contrast to the previous quarter's 3.3 times.

Joining the Class Action

Affected investors have until May 5, 2025, to make a formal request to be appointed as Lead Plaintiff in this class action. Detailed information about the complaints can be accessed on Pomerantz's official website. This opportunity presents an avenue for shareholders to pursue potential claims against the company for their financial losses.

Pomerantz LLP is recognized as a leading firm specializing in securities and corporate litigation, fighting for the rights of investors adversely affected by fraudulent business practices. With a history spanning over 85 years, the firm's commitment to securing justice for investors remains steadfast, evident in their numerous successful litigation outcomes.

Shareholders looking to join this class action or to obtain further details about the lawsuit are encouraged to act promptly given the upcoming deadlines. The potential implications of this lawsuit could influence the corporate governance and financial strategies of Ready Capital in the future.

For updates on similar cases or further insights into market movements, stay tuned as we continue to cover such pressing financial news.