Latest news with #ReadyCapitalCorporation
Malaysian Reserve
05-05-2025
- Business
- Malaysian Reserve
INVESTOR DEADLINE TODAY: Ready Capital Corporation Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit
SAN DIEGO, May 5, 2025 /PRNewswire/ — Robbins Geller Rudman & Dowd LLP announces that the Ready Capital class action lawsuit – captioned Quinn v. Ready Capital Corporation, No. 25-cv-01883 (S.D.N.Y.) – seeks to represent purchasers or acquirers of Ready Capital Corporation (NYSE: RC) common stock and charges Ready Capital as well as certain of Ready Capital's executives with violations of the Securities Exchange Act of 1934. If you suffered substantial losses and wish to serve as lead plaintiff of the Ready Capital class action lawsuit, please provide your information here: You can also contact attorneys J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at [email protected]. Lead plaintiff motions for the Ready Capital class action lawsuit must be filed with the court no later than today, Monday, May 5, 2025. CASE ALLEGATIONS: Ready Capital operates as a real estate finance company. The Ready Capital class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) significant non-performing loans in its commercial real estate ('CRE') portfolio were not likely to be collectible; (ii) Ready Capital would fully reserve these problem loans in order to 'stabilize' its CRE portfolio; (iii) this was not accurately reflected in Ready Capital's current expected credit loss or valuation allowances; and (iv) as a result, Ready Capital's financial results would be adversely affected. The Ready Capital class action lawsuit further alleges that on March 3, 2025, Ready Capital reported fourth quarter 2024 net loss of $1.80 per share and full year 2024 net loss of $2.52 per share, explaining that Ready Capital had to take 'decisive actions to stabilize' its 'balance sheet going forward by fully reserving for all of our non-performing loans in our CRE portfolio.' This included, among other actions, taking $284 million in combined Current Expected Credit Loss and valuation allowances to mark Ready Capital's non-performing loans to current value, according to the complaint. The Ready Capital class action lawsuit alleges that on this news, the price of Ready Capital common stock fell nearly 27%. THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Ready Capital common stock during the Class Period to seek appointment as lead plaintiff in the Ready Capital class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Ready Capital class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Ready Capital class action lawsuit. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Ready Capital class action lawsuit. ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world's leading law firms representing investors in securities fraud cases. Our Firm has been #1 in the ISS Securities Class Action Services rankings for six out of the last ten years for securing the most monetary relief for investors. We recovered $6.6 billion for investors in securities-related class action cases – over $2.2 billion more than any other law firm in the last four years. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs' firms in the world and the Firm's attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information: Past results do not guarantee future outcomes. Services may be performed by attorneys in any of our offices. Contact: Robbins Geller Rudman & Dowd LLP J.C. Sanchez, Jennifer N. Caringal 655 W. Broadway, Suite 1900, San Diego, CA 92101 800-449-4900 [email protected]
Business Wire
02-05-2025
- Business
- Business Wire
READY CAPITAL 72 HOUR DEADLINE ALERT: Former Louisiana Attorney General and Kahn Swick & Foti, LLC Remind Investors With Losses in Excess of $100,000 of Deadline in Class Action Lawsuits Against Ready Capital Corporation
NEW YORK & NEW ORLEANS--(BUSINESS WIRE)-- Kahn Swick & Foti, LLC ('KSF') and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until to file lead plaintiff applications in securities class action lawsuits against Ready Capital Corporation (the 'Company') (NYSE: RC), if they purchased the Company's shares between August 8, 2024 and March 2, 2025, inclusive (the 'Class Period'). These actions are pending in the United States District Court for the Southern District of New York. What You May Do If you purchased shares of Ready Capital and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ( or visit to learn more. If you wish to serve as a lead plaintiff in this class action by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must request this position by application to the Court by May 5, 2025. About the Lawsuits Ready Capital and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws. On March 3, 2025, the Company reported financial results for its fourth quarter and full year 2024, disclosing a quarterly net loss of $1.80 per share and full year 2024 net loss of $2.52 per share due to 'decisive actions to stabilize' its 'balance sheet going forward by fully reserving for all of our nonperforming loans in our CRE portfolio,' including taking $284 million in combined Current Expected Credit Loss and valuation allowances in order to mark the Company's non-performing loans to current values, among other actions. On this news, the price of Ready Capital's shares declined more than 26% to close at $5.07 per share on March 3, 2025, on unusually heavy trading volume. The first-filed case is Quinn v. Ready Capital Corporation, et al., No. 25-cv-1883. A subsequent case, Goebel v. Ready Capital Corporation, et al., No. 25-cv-3373, expanded the class period. About Kahn Swick & Foti, LLC KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. This past year, KSF was ranked by SCAS among the top 10 firms nationally based upon total settlement value. KSF serves a variety of clients, including public and private institutional investors, and retail investors - in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana, Chicago, New Jersey, and a representative office in Luxembourg. To learn more about KSF, you may visit
Business Wire
27-04-2025
- Business
- Business Wire
RC Deadline: Rosen Law Firm Urges Ready Capital Corporation (NYSE: RC) Stockholders to Contact the Firm for Information About Their Rights
NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, reminds investors that a shareholder filed a class action on behalf of purchasers of common stock of Ready Capital Corporation (NYSE: RC) between November 7, 2024 and March 2, 2025. Ready Capital describes itself as a real estate finance company. For more information, submit a form, email attorney Phillip Kim, or give us a call at 866-767-3653. The Allegations: Rosen Law Firm is Investigating the Allegations that Ready Capital Corporation (NYSE: RC) Misled Investors Regarding its Business Operations. According to the lawsuit, during the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) significant non-performing loans in its commercial real estate ('CRE') portfolio were not likely to be collectible; (2) Ready Capital would fully reserve these problem loans in order to 'stabilize' its CRE portfolio; (3) this was not accurately reflected in Ready Capital's current expected credit loss or valuation allowances; (4) as a result, Ready Capital's financial results would be adversely affected; and (5) as a result of the foregoing, Ready Capital's positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. What Now: You may be eligible to participate in the class action against Ready Capital. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by May 5, 2025. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here. All representation is on a contingency fee basis. Shareholders pay no fees or expenses. About Rosen Law Firm: Some law firms issuing releases about this matter do not actually litigate securities class actions. Rosen Law Firm does. Rosen Law Firm is a recognized leader in shareholder rights litigation, dedicated to helping shareholders recover losses, improving corporate governance structures, and holding company executives accountable for their wrongdoing. Since its inception, Rosen Law Firm has obtained over $1 billion for shareholders. Attorney Advertising. Prior results do not guarantee a similar outcome.
Associated Press
22-04-2025
- Business
- Associated Press
LEGAL NOTICE: Ready Capital (NYSE:RC) Investors are Notified of the May 5 Securities Fraud Class Action Deadline
NEW YORK, April 22, 2025 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that a lawsuit has been filed against Ready Capital Corporation (NYSE: RC) and certain of the Company's senior executives for potential violations of the federal securities laws. If you invested in Ready Capital, you are encouraged to obtain additional information by visiting Investors have until May 5, 2025, to ask the Court to be appointed to lead the case. The complaint asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors who purchased Ready Capital stock. The case is pending in the U.S. District Court for the Southern District of New York and is captioned Quinn v. Ready Capital Corporation, et al., No. 25-cv- 01883. Why was Ready Capital Sued for Securities Fraud? Ready Capital is a real estate finance company which originates, acquires, finances and services lower-to-middle-market (LLM) commercial real estate (CRE) loans, small business administration loans, residential mortgage loans, and other real estate-related investments. As alleged, Ready Capital misrepresented the credit performance of its loans, stating that its 'CRE portfolio is showing stabilizing credit metrics' and that it was 'well positioned to capitalize on the tailwinds in the CRE market.' In reality, Ready Capital's CRE portfolio was plagued by non-performing loans and its CRE portfolio had not stabilized. The Stock Declines as the Truth is Revealed On March 3, 2025, Ready Capital announced financial results for 4Q 24, disclosing that it would recognize a $382 million charge, which included $284 million in combined Current Expected Credit Losses (CECL) and valuation allowances on its nonperforming loans. Ready Capital also announced it would be reducing its dividend to $0.125 per share. This news caused the price of Ready Capital stock to decline almost 27%, from $6.93 per share at close on February 28, 2025, to $5.07 per share at close on March 3, 2025. Click here if you suffered losses: What Can You Do? If you invested in Ready Capital you may have legal options and are encouraged to submit your information to the firm. All representation is on a contingency fee basis, there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses. Submit your information by visiting: Or contact: Ross Shikowitz [email protected] 212-789-3619 Why Bleichmar Fonti & Auld LLP? Bleichmar Fonti & Auld LLP is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It was named among the Top 5 plaintiff law firms by ISS SCAS in 2023 and its attorneys have been named Titans of the Plaintiffs' Bar by Law360 and SuperLawyers by Thompson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.'s Board of Directors, as well as $420 million from Teva Pharmaceutical Ind. Ltd. For more information about BFA and its attorneys, please visit Attorney advertising. Past results do not guarantee future outcomes.
Associated Press
14-04-2025
- Business
- Associated Press
Lawsuit Targets Ready Capital (RC) for Misleading Statements on CRE Loans– Hagens Berman
SAN FRANCISCO, April 14, 2025 (GLOBE NEWSWIRE) -- New York-based real estate finance company Ready Capital Corporation (NYSE: RC) is facing heightened scrutiny as it is now the subject of a securities class-action lawsuit. Hagens Berman is investigating the alleged claims and urges investors who purchased Ready Capital shares and suffered substantial losses to submit your losses now. The firm also encourages persons with knowledge who may assist the firm's investigation to contact its attorneys. Class Period: Nov. 7, 2024 – Mar. 2, 2025 Lead Plaintiff Deadline: May 5, 2025 Visit: Contact the Firm Now: [email protected] 844-916-0895 Ready Capital (RC) Securities Class Action: The case, Quinn v. Ready Capital Corporation, filed in the U.S. District Court for the Southern District of New York, accuses the company and certain senior executives of violating the Securities Exchange Act of 1934. At the heart of the allegations are claims that Ready Capital misrepresented the health of its commercial real estate (CRE) loan portfolio, which included a significant volume of non-performing loans. The lawsuit alleges that Ready Capital failed to disclose critical issues with its CRE portfolio, including loans unlikely to be collectible. According to the complaint, these problems were not adequately reflected in the company's credit loss or valuation allowances. This alleged lack of transparency came to a head on March 3, 2025, when Ready Capital reported a fourth-quarter 2024 net loss of $1.80 per share and a full-year loss of $2.52 per share. The company attributed these losses to 'decisive actions' aimed at stabilizing its balance sheet, including fully reserving $284 million for non-performing loans in its CRE portfolio. The market reaction was swift and severe. On the day of the announcement, Ready Capital's stock price plummeted nearly 27%, erasing significant shareholder value. Hagens Berman's Investigation: Investor rights law firm Hagens Berman is actively investigating claims related to Ready Capital's disclosures and financial practices during the class period. Reed Kathrein, a partner at Hagens Berman leading the investigation, stated, 'Our focus is on whether Ready Capital concealed the true extent of non-performing loans in its commercial real estate portfolio and failed to properly account for these losses in its financial statements. Investors rely on accurate reporting to make informed decisions, and any misrepresentation undermines market integrity.' If you invested in Ready Capital and have substantial losses, or have knowledge that may assist the firm's investigation, submit your losses now » If you'd like more information and answers to frequently asked questions about the Ready Capital case and our investigation, read more» Whistleblowers: Persons with non-public information regarding Ready Capital should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected]. About Hagens Berman Hagens Berman is a global plaintiffs' rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman's team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at Follow the firm for updates and news at @ClassActionLaw. Contact: Reed Kathrein, 844-916-0895
