#United States #New York #Gross Law Firm #Securities Law #Ready Capital

Legal Action Against Ready Capital Corporation

Ready Capital Corporation (NYSE: RC) has recently come under fire with allegations of significant violations of securities law. The Gross Law Firm has issued an important notice intended for shareholders of Ready Capital, inviting them to engage in a conversation about their rights in light of these allegations. This comes after a class action lawsuit was filed against the corporation, highlighting some serious misleading practices that potentially impacted many shareholders.

Background of the Case

The controversy centers around statements made by Ready Capital between November 7, 2024, and March 2, 2025. During this period, the defendants are accused of issuing misleading information and failing to disclose material facts about the corporation's financial condition. Specifically, it has been alleged that a number of non-performing loans in the company's commercial real estate (CRE) portfolio were not likely to be collectible, impacting the stability of the company’s financial standing.

The lawsuit claims that Ready Capital did not appropriately reserve for these problematic loans, leading to an inaccurate reflection of its expected credit loss and valuation allowances. As a result, many of the company’s positive claims about its business and operational prospects are being called into question, raising concerns about the validity of its financial disclosures.

Current Situation

Shareholders who bought shares during the specified class period are urged to register their information with the Gross Law Firm. By doing so, they can be kept informed about the progress of the case and potential recovery options. This deadline is particularly pressing, as May 5, 2025, marks the cutoff for shareholders wishing to apply for lead plaintiff status in this class action lawsuit. However, it’s crucial to point out that even if you don’t qualify as a lead plaintiff, you can still participate in the recovery process.

Why Should Shareholders Act?

The Gross Law Firm emphasizes the importance of acting quickly. Registering for updates about the case ensures that shareholders will benefit from portfolio monitoring services and be informed of any developments. More so, the law firm aims to protect investor rights, especially in cases where deceit or illegal business practices have resulted in financial losses.

By not registering, shareholders risk missing out on the opportunity to reclaim losses suffered due to misleading statements made by the corporation. The firm is dedicated to helping investors navigate the complexities of class action lawsuits, ensuring they know their rights and options.

Conclusion

As the situation unfolds, it's clear that the stakes are high for Ready Capital shareholders. Being part of this legal action could provide them with the necessary recourse to address the issues stemming from alleged wrongful conduct by the corporation. Those affected should consider contacting the Gross Law Firm for a consultation and more information on how to protect their investments before the deadline arrives.

Contact Information:

• - The Gross Law Firm

15 West 38th Street, 12th floor
New York, NY, 10018
Email: [email protected]
Phone: (646) 453-8903

It is imperative for shareholders to act decisively given the critical nature of the allegations and the potential for recovery. Don’t wait until it’s too late to assert your rights. The firm is determined to stand with investors who have been affected by these serious claims.