#United States #New York #Class Action #Kahn Swick #Ready Capital

Shareholder Alert: Key Updates for Ready Capital Investors

Former Attorney General of Louisiana, Charles C. Foti, Jr., and Kahn Swick & Foti, LLC (KSF) have issued a pressing reminder for investors in Ready Capital Corporation. If you held shares between November 7, 2024, and March 2, 2025, you may be eligible to join a securities class action lawsuit against the company. The deadline for lead plaintiff applications is May 5, 2025.

Background of the Lawsuit

The lawsuit arises from allegations that Ready Capital and its executives failed to disclose critical information during the designated Class Period. This issue came to light when the company released its fourth quarter and full year 2024 financial results on March 3, 2025. The results revealed a staggering quarterly net loss of $1.80 and a full year net loss of $2.52 per share, attributed to significant actions taken to stabilize the balance sheet. This included reserving for non-performing loans in the company’s Commercial Real Estate (CRE) portfolio.

As a consequence of this disclosure, Ready Capital's stock saw a sharp decline, resulting in a more than 26% drop in share price, closing at $5.07 on March 3, 2025. This unprecedented loss has prompted KSF to take action to protect the rights of investors.

Your Options

If you were affected by the events surrounding the share price decline of Ready Capital and wish to discuss your legal rights regarding participation in this class action, KSF offers a no-obligation consultation. You may contact Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or send an email to email protected]. More detailed information can also be accessed through their website at [www.ksfcounsel.com/cases/nyse-rc/.

Investors interested in taking on the role of lead plaintiff must submit a petition to the court by the May 5 deadline. This allows individuals to have a voice in the lawsuit and the potential for recovering losses due to the company's alleged misrepresentation of its financial health.

What’s at Stake

This case, titled Quinn v. Ready Capital Corporation, et al., highlights the essential need for transparency in corporate governance and accountability. It also raises questions about the responsibilities of publicly traded companies in reporting financial information truthfully. Shareholders initiated litigation when it became evident that the company did not act in their best interests, failing to disclose material facts that could have enabled them to make informed investment decisions.

The ramifications for Ready Capital could be significant if it is found liable for the cited violations of federal securities laws. Such a finding may lead to not only financial penalties but also a deeper scrutiny of its management practices.

About Kahn Swick & Foti, LLC

Kahn Swick & Foti is a highly regarded law firm recognized for its work in securities litigation, particularly involving corporate fraud. With offices spanning across several major cities and a strong track record of representing institutional and retail investors alike, KSF stands ready to advocate for the rights of those who may have suffered investment losses.

For more information about their work and recent achievements, visit their official website at www.ksfcounsel.com. They remain committed to seeking justice for shareholders and ensuring that corporate accountability is upheld in all actions taken against public companies.

As the deadline approaches, affected investors should act promptly to ensure their voices are heard in this critical legal proceeding. The pursuit of justice not only safeguards individual investments but also fosters a market environment that emphasizes integrity and transparency.