#United States #New York #Class Action #Bronstein Gewirtz #Ready Capital

Legal Alert for Ready Capital Investors

Investors associated with Ready Capital Corporation have a crucial opportunity ahead, as a class action lawsuit has been initiated by a prominent law firm, Bronstein, Gewirtz & Grossman, LLC. This legal action comes as a response to significant financial setbacks experienced by investors due to alleged violations of federal securities laws by the company's officers.

Background of the Case

The lawsuit pertains to all individuals and entities that purchased or otherwise acquired shares of Ready Capital between November 7, 2024, and March 2, 2025. During this period, it is claimed that the company misled investors regarding its financial health, particularly concerning its real estate assets.

Allegations Against Ready Capital

The complaint outlines several key assertions against the company and its executives:
1. Material Misrepresentation: Investors were reportedly not informed about the significant non-performing loans in Ready Capital’s commercial real estate (CRE) portfolio, leading to an inaccurate assessment of the company's viability.
2. Financial Mismanagement: It is alleged that the company took insufficient measures to address these troubled assets, including failing to reserve adequately for these non-collectible loans, which deviated from industry standards necessary for reassuring stakeholders.
3. Deceptive Communication: Throughout the class period, executives made positive statements about the company's operational prospects, which contradicted the internal challenges the company faced, ultimately constituting misleading practices without a reasonable basis.

Next Steps for Investors

Affected investors are encouraged to get involved by visiting the law firm’s website or contacting them directly. The timeline for joining the case is critical, as investors must express their intent to be lead plaintiffs by May 5, 2025. Participating does not require one to take on the lead plaintiff role, allowing more investors to seek recovery without personal legal burdens.

No Upfront Costs

Bronstein, Gewirtz & Grossman, LLC operates on a contingency fee basis, meaning investors will only incur costs if the lawsuit yields a financial recovery. This model reduces the risk for investors already facing substantial losses.

Why Choose Bronstein, Gewirtz & Grossman, LLC?

Recognized nationally for their expertise in handling securities fraud cases, Bronstein, Gewirtz & Grossman has successfully recovered significant funds for their clientele in the past. Their familiarity with complex financial regulations and legal frameworks positions them favorably to navigate this case effectively and advocate for investor rights.

In conclusion, this class action lawsuit represents not only an avenue for financial recovery for Ready Capital’s shareholders but also a means to hold corporations accountable for transparency and honesty in their operations. Investors looking to join this litigation should act swiftly, as the window to make their voices heard is rapidly closing. Keep abreast of updates through the firm's various social media channels for ongoing developments related to this case.