Important Notice for Ready Capital Investors: Class Action Lawsuit Deadline Approaches

Important Notice for Ready Capital Investors

Kahn Swick & Foti, LLC (KSF), led by the former Attorney General of Louisiana, Charles C. Foti, Jr., is urging investors who have experienced significant losses from Ready Capital Corporation (NYSE: RC) to pay attention to a crucial deadline. Those who incurred losses exceeding $100,000 during the period from November 7, 2024, to March 2, 2025, inclusive, are reminded that they have until May 5, 2025, to file their lead plaintiff applications in a class-action lawsuit against the company.

Overview of the Situation

The securities class action is currently pending in the United States District Court for the Southern District of New York. Investors who purchased shares during the specified Class Period should take this opportunity to understand their rights and the potential ramifications of the ongoing litigation.

Recently, Ready Capital reported a net loss of $1.80 per share for the fourth quarter of 2024 and a full-year net loss of $2.52 per share. This downturn was attributed to actions taken to stabilize their balance sheet, including a stark reserve for non-performing loans that had severely impacted the company’s financial health. As a result, shares plummeted over 26% to $5.07 per share following this news, indicating severe investor reaction to the grim financial disclosures.

Legal Considerations

Under federal securities laws, Ready Capital and certain executives are accused of failing to disclose critical information during the Class Period. For investors concerned about their losses, KSF provides initial consultations without any obligation, allowing you to explore your legal options for recovery. Interested parties can reach out directly to KSF’s Managing Partner, Lewis Kahn, at 1-877-515-1850 or via email at info@ksfcounsel.com, or visit their website at www.ksfcounsel.com.

The Role of Kahn Swick & Foti, LLC

KSF is recognized as one of the leading boutique law firms specializing in securities litigation in the United States. It has a proven track record in representing both public and private institutional investors along with retail investors to reclaim losses from corporate misconduct. Over the past year, KSF has been ranked among the top firms in the nation based on total settlement values achieved for clients. The firm operates various offices across the U.S. and also has a representative office in Luxembourg to cater to a broader client base.

In the case of Quinn v. Ready Capital Corporation, et al., No. 25-cv-1883, investors who wish to serve as lead plaintiffs must submit a petition to the court before the specified deadline. Failing to take action could result in losing the right to be involved in the lawsuit, making timely engagement essential.

If you have been affected by Ready Capital's recent financial downtrend and believe you have a claim, now is the time to act. KSF’s expertise in securities litigation may be your best chance to recover the financial losses incurred during this turbulent period. Don't hesitate to reach out and take the necessary steps towards possible restitution.

For more updates and information, stay tuned to KSF’s announcements or visit their website for further assistance on how to navigate this situation effectively.