Core Viewpoint - A class action securities lawsuit has been filed against Ready Capital Corporation, alleging securities fraud that negatively impacted investors between August 8, 2024, and March 2, 2025 [1][2]. Group 1: Lawsuit Details - The complaint claims that Ready Capital made false statements regarding significant non-performing loans in its commercial real estate (CRE) portfolio, which were not likely to be collectible [2]. - It is alleged that Ready Capital intended to fully reserve these problem loans to stabilize its CRE portfolio, but this was not accurately reflected in the company's expected credit loss or valuation allowances [2]. - As a result of these actions, the company's financial results were adversely affected, and the positive statements made by the defendants about the company's business and prospects were misleading [2]. Group 2: Next Steps for Investors - Investors who suffered losses in Ready Capital during the specified timeframe have until May 5, 2025, to request to be appointed as lead plaintiff in the lawsuit [3]. - Participation in the lawsuit does not require serving as a lead plaintiff, and class members may be entitled to compensation without any out-of-pocket costs [3]. Group 3: Firm Background - Levi & Korsinsky has a history of securing hundreds of millions of dollars for shareholders and has extensive expertise in complex securities litigation [4]. - The firm has been recognized in ISS Securities Class Action Services' Top 50 Report for seven consecutive years as one of the leading securities litigation firms in the United States [4].

NEW YORK, May 01, 2025 (GLOBE NEWSWIRE) -- Ready Capital Corporation (NYSE: RC) (the “Company”) today announced that the Company will release its first quarter 2025 financial results after the New York Stock Exchange closes on Thursday, May 8, 2025. Management will host a webcast and conference call on Friday, May 9, 2025 at 8:30 a.m. Eastern Time to provide a general business update and discuss the financial results for the quarter ended March 31, 2025. Webcast:The Company encourages use of the webcast du ...

Core Viewpoint - Investors in Ready Capital Corporation have until May 5, 2025, to file lead plaintiff applications in securities class action lawsuits due to alleged failures in disclosing material information during the class period from November 7, 2024, to March 2, 2025 [1][3]. Group 1: Legal Actions - Ready Capital and certain executives are charged with violating federal securities laws by failing to disclose material information during the class period [3]. - The first-filed case is Quinn v. Ready Capital Corporation, et al., No. 25-cv-1883, with a subsequent case, Goebel v. Ready Capital Corporation, et al., No. 25-cv-3373, expanding the class period [5]. Group 2: Financial Performance - On March 3, 2025, Ready Capital reported a quarterly net loss of $1.80 per share and a full year 2024 net loss of $2.52 per share, attributed to actions taken to stabilize the balance sheet by reserving for nonperforming loans [4]. - The company took $284 million in combined Current Expected Credit Loss and valuation allowances to mark non-performing loans to current values [4]. Group 3: Market Reaction - Following the financial results announcement, Ready Capital's share price declined over 26% to close at $5.07 per share on March 3, 2025, amid unusually heavy trading volume [5].

Core Viewpoint - A lawsuit has been filed against Ready Capital Corporation and its senior executives for potential violations of federal securities laws, focusing on misrepresentation of the company's financial health due to non-performing loans in its commercial real estate portfolio [1][2][4]. Group 1: Lawsuit Details - The lawsuit is filed by Bleichmar Fonti & Auld LLP on behalf of investors who purchased Ready Capital stock, asserting claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 [2]. - Investors have until May 5, 2025, to request to be appointed to lead the case, which is pending in the U.S. District Court for the Southern District of New York [2]. Group 2: Company Background - Ready Capital is a real estate finance company that originates, acquires, finances, and services lower-to-middle-market commercial real estate loans, small business administration loans, and other real estate-related investments [3]. Group 3: Financial Misrepresentation - The lawsuit alleges that the defendants misrepresented the impact of significant non-performing loans on the company's financial performance, which were not accurately reflected in its current expected credit loss (CECL) or valuation allowances [4]. - The financial results were claimed to be materially false and misleading due to the misrepresentation of these non-performing loans [4]. Group 4: Stock Performance - Following the announcement of financial results for Q4 2024, Ready Capital recognized a $382 million charge, including $284 million related to non-performing loans, and reduced its dividend to $0.125 per share [5]. - This announcement led to a nearly 27% decline in the stock price, dropping from $6.93 per share on February 28, 2025, to $5.07 per share on March 3, 2025 [6].

Core Viewpoint - The Gross Law Firm is notifying shareholders of Ready Capital Corporation regarding a class action lawsuit due to alleged misleading statements and undisclosed issues related to non-performing loans in its commercial real estate (CRE) portfolio [2][4]. Group 1: Allegations and Class Period - The class period for the allegations is from August 8, 2024, to March 2, 2025 [2]. - Allegations include that Ready Capital failed to disclose significant non-performing loans that were unlikely to be collectible and did not accurately reflect these issues in their expected credit loss or valuation allowances [2]. Group 2: Next Steps for Shareholders - Shareholders are encouraged to register for the class action by May 5, 2025, to potentially become lead plaintiffs [3]. - Once registered, shareholders will receive updates through a portfolio monitoring software regarding the case [3]. Group 3: Law Firm's Mission - The Gross Law Firm aims to protect investors' rights against deceit and fraud, ensuring companies adhere to responsible business practices [4].

NEW YORK, April 30, 2025 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of common stock of Ready Capital Corporation (NYSE: RC) between November 7, 2024 and March 2, 2025, both dates inclusive (the “Class Period”), of the important May 5, 2025 lead plaintiff deadline. SO WHAT: If you purchased Ready Capital securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrang ...

ATLANTA, April 29, 2025 (GLOBE NEWSWIRE) -- Holzer & Holzer, LLC reminds investors of the May 5, 2025 deadline to seek to be appointed lead plaintiff in the following class action lawsuits: Ready Capital Corporation The shareholder class action lawsuit filed against Ready Capital Corporation (“Ready Capital” or the “Company”) (NYSE: RC) alleges that Defendants made materially false and/or misleading statements and/or failed to disclose material adverse information regarding certain loans in Ready Capital’s ...

NEW YORK, April 29, 2025 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP notifies investors in Ready Capital Corporation ("Ready Capital" or the "Company") (NYSE: RC) of a class action securities lawsuit. CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Ready Capital investors who were adversely affected by alleged securities fraud between August 8, 2024 and March 2, 2025. Follow the link below to get more information and be contacted by a member of our team: https://zlk.com/pslra-1/ready-capita ...

Core Viewpoint - A lawsuit has been filed against Ready Capital Corporation and its senior executives for potential violations of federal securities laws, focusing on misrepresentation of the company's financial health due to non-performing loans in its commercial real estate portfolio [1][2][4]. Group 1: Company Overview - Ready Capital is a real estate finance company that originates, acquires, finances, and services lower-to-middle-market commercial real estate loans, small business administration loans, and other real estate-related investments [3]. Group 2: Legal Allegations - The lawsuit alleges that the defendants misrepresented the severe impact of significant non-performing loans on Ready Capital's business, which were not accurately reflected in the company's expected credit loss or valuation allowances [4]. - The complaint is filed under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors who purchased Ready Capital stock [2]. Group 3: Financial Impact - On March 3, 2025, Ready Capital announced a financial charge of $382 million, including $284 million related to non-performing loans, and a reduction in its dividend to $0.125 per share [5]. - Following this announcement, Ready Capital's stock price fell nearly 27%, from $6.93 per share on February 28, 2025, to $5.07 per share on March 3, 2025 [6].

LOS ANGELES, April 28, 2025 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Ready Capital Corporation ("Ready Capital" or the "Company") (NYSE: RC) investors of a class action representing investors that bought securities between November 7, 2024 and March 2, 2025, inclusive (the "Class Period"). Ready Capital investors have until May 5, 2025 to file a lead plaintiff motion. Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss the ...