Investors Urged to Join Lawsuit Against Ready Capital Over Securities Fraud Allegations

In a significant legal development, Rosen Law Firm, a prominent global advocate for investor rights, is reaching out to those who purchased common stock in Ready Capital Corporation (NYSE: RC) during a critical window. This period spans from November 7, 2024, to March 2, 2025, and is marked as the Class Period for a potential class action lawsuit. Investors are being notified of an impending deadline to apply as lead plaintiffs by May 5, 2025, giving them a chance to pursue compensation for alleged securities fraud.

What Are the Allegations?

The crux of the lawsuit revolves around allegations that during the Class Period, Ready Capital misled investors regarding the state of its financial health and the collectibility of its commercial real estate (CRE) portfolio. Investors claim that the company failed to disclose significant non-performing loans, which were likely uncollectible, suggesting a more stable financial position than actually existed. Furthermore, it's alleged that Ready Capital would take measures to reserve these problematic loans without adequately reflecting the impact on its financial statements. As a result, the investment community was given a materially skewed perspective on the company’s viability and future prospects.

Importance of Taking Action

Investors who acquired securities of Ready Capital within the specified period may be eligible for compensation at no upfront cost, thanks to a contingency fee arrangement. Joining this class action could empower investors to recover losses without the burden of direct legal fees. The Rosen Law Firm emphasizes the necessity for affected investors to act swiftly to secure their role in this case, as the deadline to apply is fast approaching.

Phillip Kim, a partner at the Rosen Law Firm, is at the forefront of this initiative. Interested parties can find more information on how to join the class action lawsuit by visiting Rosen Law Firm's official website or contacting Mr. Kim directly at 866-767-3653. It is crucial for those wishing to take the lead in this lawsuit to submit their motions by the named deadline.

Choosing the Right Legal Representation

The Rosen Law Firm advocates for investors to choose reputable legal representation with a history of successful involvement in similar lawsuits. Many firms that provide notices may lack the depth of experience or resources necessary for effective litigation. This firm has a proven track record, notably securing the largest-ever securities class action settlement against a Chinese company as of its time.

In recent years, Rosen Law Firm has consistently ranked among the top firms in terms of securities class action settlements. Their significant recoveries for investors highlight their competence in navigating the complexities of securities litigation. In 2020, firm co-founder Laurence Rosen was recognized as a leading figure in the Plaintiffs’ Bar by Law360, underscoring the firm's expertise.

What’s Next for Affected Investors?

If you're an investor in Ready Capital, the upcoming deadlines and the opportunity for compensation represents a pivotal moment. The firm reminds investors that they are not currently represented in the class unless they retain counsel, emphasizing the value of legal guidance during this period. Those who decide not to participate as lead plaintiffs can still remain involved as class members without taking further action.

Ongoing updates regarding the lawsuit and other vital information are available on the Rosen Law Firm's social media platforms, including LinkedIn, Twitter, and Facebook. Investors are encouraged to follow these channels to stay informed about the case’s progress.

Conclusion

As the May 5th deadline approaches, it is imperative for investors who have suffered losses due to alleged securities fraud by Ready Capital Corporation to evaluate their situation and take appropriate action. With support from a law firm recognized for its success in securities litigation, affected investors may find the path to recovery more attainable than previously thought. Stay proactive and consider joining the class action to ensure your voice is heard amidst these serious allegations.