Important Deadline for Investors in Ready Capital Corporation Class Action Lawsuit Approaches

Investors Alert: Class Action Against Ready Capital Corporation

In a critical announcement for investors, ClaimsFiler, an essential source of shareholder information, has reminded individuals who have suffered losses exceeding $100,000 that they have a limited time to act. Investors must submit lead plaintiff applications by May 5, 2025, in a class action lawsuit aimed at Ready Capital Corporation (ticker symbol: RC), specifically for those who purchased shares during the designated period from November 7, 2024, to March 2, 2025.

The lawsuit, currently filed in the United States District Court for the Southern District of New York, centers on allegations that Ready Capital and several of its executives failed to disclose significant financial information, violating federal securities laws. This critical case stems from the company’s financial results for the fourth quarter and the full year of 2024, which revealed a staggering net loss of $1.80 per share for the fourth quarter and a total loss of $2.52 per share for the entire year.

These losses were attributed to actions taken to stabilize the company’s financial standing, as it fully reserved for all nonperforming loans within its Commercial Real Estate portfolio. The company announced reserve actions amounting to $284 million for current expected credit losses and valuation allowances, marking down non-performing loans to current values. This acknowledgment had a dramatic effect on the stock's market value, leading to a decline of over 26%, with shares closing at $5.07 per share on March 3, 2025. This downturn occurred amid notably high trading volumes, sparking concerns among investors regarding the company’s transparency and governance.

The ongoing class action is identified as Quinn v. Ready Capital Corporation, et al., No. 25-cv-1883. This case has drawn attention due to the potential implications for investors who participated in Ready Capital's stock offerings during the specified period. Possible valid claims exist for those who believe their investments were affected by the company's unfulfilled obligation to disclose pivotal information.

To assist affected investors, ClaimsFiler offers a free service allowing them to register and receive updates about various securities class action cases, facilitating their access to numerous settlement opportunities. Investors are encouraged to take proactive steps by visiting ClaimsFiler's dedicated webpage or reaching out directly via their toll-free number at (844) 367-9658. Legal representatives from Kahn Swick & Foti, LLC stand ready to discuss available legal options for unsatisfied investors.

For investors involved in this situation, timing is crucial. The disappearance of essential financial data may have severe consequences on their investments, and they must act swiftly to protect their rights. The potential recovery of funds through the class action could extend a safety net to those adversely impacted by Ready Capital's recent market performance.

As the deadline looms closer, vigilance and swift action are paramount. Interested investors should gather necessary documentation, register with ClaimsFiler, and consult legal professionals to ensure their voices are heard during this pivotal moment. Failure to act by the May 5, 2025 deadline could mean losing the opportunity to seek redress for their financial setbacks.

For more information on ClaimsFiler and other related securities class actions, visit www.claimsfiler.com. The protections and recourse available to investors can play a transformative role in recovering from financial losses caused by corporate malfeasance.