Kahn Swick & Foti Urges Investors in Ready Capital to Join Class Action Lawsuit

Urgent Alert for Ready Capital Investors

Kahn Swick & Foti, LLC, alongside Charles C. Foti, Jr., former Attorney General of Louisiana, has issued an urgent reminder to investors who have suffered losses exceeding $100,000 in Ready Capital Corporation (NYSE: RC). Investors are encouraged to file lead plaintiff applications for participation in class action lawsuits before the impending deadline of May 5, 2025.

Context of the Lawsuit

The class action lawsuits target Ready Capital and its executives for allegedly failing to disclose critical financial information during a designated class period, which extends from August 8, 2024, to March 2, 2025. This group of lawsuits is currently pending in the United States District Court for the Southern District of New York.

On March 3, 2025, Ready Capital disclosed a quarterly net loss of $1.80 per share and an annual loss of $2.52 per share. This announcement was part of their strategy to stabilize their financial standing by taking decisive actions, including a massive $284 million reserve for losses on non-performing loans within their Commercial Real Estate (CRE) portfolio. This strategy was intended to address significant concerns regarding their loan value assessments.

Following this announcement, Ready Capital's stock experienced a drastic fall. The share price plummeted over 26%, down to $5.07 per share, marking the end of a tumultuous trading session. Such sharp declines typically indicate the market’s reaction to the revelation of unfavorable information, significantly affecting investors’ portfolios.

What Investors Can Do

Affected investors who purchased Ready Capital shares during the class period should be aware of their legal rights and the potential pathways to reclaiming their losses. Those interested in pursuing participation as a lead plaintiff can do so by reaching out to KSF Managing Partner Lewis Kahn at 1-877-515-1850 or via email at info@ksfcounsel.com. Further details are also available through their dedicated webpage at www.ksfcounsel.com/cases/nyse-rc/. However, it is crucial to act swiftly, as the deadline for applications falls on May 5, 2025.

Background on Kahn Swick & Foti, LLC

Kahn Swick & Foti, LLC has garnered a reputation as one of the leading securities litigation law firms in the nation. The firm, spearheaded by Charles C. Foti, Jr., has recently been recognized by SCAS as one of the top ten law firms in the U.S. based on total settlement value achieved for clients. KSF represents a diverse array of clients, including both institutional and retail investors, aiming to obtain recoveries from losses related to corporate malfeasance affecting publicly traded entities.

With active offices across critical states including New York, California, and Louisiana, KSF is poised to handle various legal challenges that securities investors may encounter. As market conditions evolve, continued vigilance and legal recourse can be pivotal for investors navigating complex financial landscapes.

For more information about Kahn Swick & Foti and to stay updated on legal proceedings that may impact your financial interests, visit www.ksfcounsel.com.