NEW ORLEANS, May 01, 2025 (GLOBE NEWSWIRE) — ClaimsFiler, a FREE shareholder information service, reminds investors that they have until May 5, 2025 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 November 7, 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.
Get Help
Ready Capital investors should visit us at https://claimsfiler.com/cases/nyse-rc/ or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
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 ClaimsFiler
ClaimsFiler has a single mission: to serve as the information source to help retail investors recover their share of billions of dollars from securities class action settlements. At ClaimsFiler.com, investors can: (1) register for free to gain access to information and settlement websites for various securities class action cases so they can timely submit their own claims; (2) upload their portfolio transactional data to be notified about relevant securities cases in which they may have a financial interest; and (3) submit inquiries to the Kahn Swick & Foti, LLC law firm for free case evaluations.
To learn more about ClaimsFiler, visit http://www.claimsfiler.com.
