Class Action Lawsuit Filed Against Ready Capital Corporation: Important Updates for Investors
Legal Alert: Class Action Lawsuit Against Ready Capital Corporation
The Gross Law Firm has recently issued an important notice for shareholders of Ready Capital Corporation (NYSE: RC). A class action lawsuit has been filed on behalf of investors who purchased shares during a specific period, urging those affected to come forward and register their claims.
Key Details of the Class Action
Class Period
This lawsuit pertains to the shares bought between November 7, 2024, and March 2, 2025. Shareholders who fall within this timeframe, particularly those who may have faced losses due to the actions of the company, are highly encouraged to get in touch with the firm.
Allegations
The complaint outlines several allegations against the company, claiming that during the designated period:
1. False Statements: Defendants purportedly made misleading statements concerning the financial health of the company.
2. Uncollectible Loans: It alleges that significant non-performing loans from its Commercial Real Estate (CRE) portfolio were not likely to be collectible, which was crucial information that was not disclosed.
3. Inaccurate Financial Reflections: The company is accused of failing to accurately reflect the full impact of these problematic loans in its expected credit loss or valuation allowances, which affects overall financial results.
4. Misleading Positive Statements: As a result of these failures, positive statements made regarding the business and its operations were deemed materially misleading, lacking a reasonable basis.
Important Dates
Shareholders should be aware that the deadline to register as a lead plaintiff in this class action is May 5, 2025. Delays in registering could forfeit opportunities for recovery, making timely action essential.
Next Steps for Investors
For shareholders who believe they are eligible, the first step is to register with the Gross Law Firm. By doing so, investors will be enrolled in a portfolio monitoring program that offers updates regarding the lawsuit's progress.
Investors can register their information through the following link: Register for Class Action. It's important to note that there are no costs or obligations associated with participating in this case.
Why Choose Gross Law Firm?
The Gross Law Firm is a recognized leader in class action litigation, primarily focused on protecting the rights of investors. They aim to ensure companies adhere to ethical business practices and accountability. Taking on cases where companies may have engaged in deceitful practices, the firm seeks to secure recovery for investors who have suffered losses.
Contact Information
For more information or support, investors can reach out to:
- - Gross Law Firm
New York, NY, 10018
Email: info@grosslawfirm.com
Phone: (646) 453-8903
This is a critical moment for shareholders of Ready Capital Corporation. If you’ve been affected by the alleged actions during the class period mentioned above, don’t hesitate to take immediate action to protect your investment rights.
Topics Financial Services & Investing）
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