NEW YORK, April 7, 2025 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of Ready Capital Corporation (NYSE: RC).Shareholders who purchased shares of RC during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.CONTACT US HERE:https://securitiesclasslaw.com/securities/ready-capital-corporation-loss-submission-form/?id=140986&from=4 CLASS PERIOD: Novemb ...

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Ready Capital Corporation due to significant losses reported by investors, particularly related to misleading statements and undisclosed financial issues [2][4]. Group 1: Legal Investigation and Class Action - Faruqi & Faruqi is encouraging investors who suffered losses exceeding $50,000 in Ready Capital between November 7, 2024, and March 2, 2025, to discuss their legal options [1][2]. - A federal securities class action has been filed against Ready Capital, with a deadline of May 5, 2025, for investors to seek the role of lead plaintiff [2][7]. Group 2: Financial Performance and Issues - Ready Capital reported a fourth quarter 2024 net loss of $1.80 per share and a full year 2024 net loss of $2.52 per share, necessitating decisive actions to stabilize its balance sheet [5]. - The company took $284 million in combined Current Expected Credit Loss (CECL) and valuation allowances to address non-performing loans in its commercial real estate (CRE) portfolio [5]. - Total leverage increased to 3.8x from the previous quarter's 3.3x, indicating a deterioration in financial stability [5]. Group 3: Market Reaction - Following the announcement of its financial results, Ready Capital's stock price fell by $1.86, or 26.8%, closing at $5.07 per share on March 3, 2025, amid unusually heavy trading volume [6].

SAN FRANCISCO, April 03, 2025 (GLOBE NEWSWIRE) -- A securities class action lawsuit has been filed against Ready Capital Corporation (NYSE: RC) after the company reported dismal financial results and shed light on its true asset quality. The suit, captioned Quinn v. Ready Capital Corporation, et al., No. 1:25-cv-01883 (S.D.N.Y.), seeks to represent investors who purchased shares of Ready Capital between November 7, 2024 and March 2, 2025. Hagens Berman is investigating the alleged claims and urges investors ...

NEW YORK, April 03, 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 https://www.bfalaw.com/cases-investigations/ready-capital-corporation. Investors have until May 5, 2025, to ask the Court to ...

NEW YORK, April 3, 2025 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of Ready Capital Corporation (NYSE: RC).Shareholders who purchased shares of RC during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.CONTACT US HERE:https://securitiesclasslaw.com/securities/ready-capital-corporation-loss-submission-form/?id=140403&from=4CLASS PERIOD: Novembe ...

Core Viewpoint - A securities class action lawsuit has been filed against Ready Capital Corporation following the company's poor financial results and revelations about its asset quality, representing investors who purchased shares between November 7, 2024, and March 2, 2025 [1][2]. Financial Performance - Ready Capital reported a quarterly net loss per share of $1.80 and an annual net loss of $2.52 per share for FY 2024, alongside a 50% cut to its quarterly dividend and a 16% reduction in book value [2][4]. - The company recorded a 700% increase in reconciling items totaling approximately $382 million, which included about $277 million in combined CECL and valuation allowances, marking an 8500% increase from the prior-year quarter [3]. Market Reaction - Following the announcement of its financial results on March 3, 2025, Ready Capital's share price plummeted nearly 27% [4]. Legal Allegations - The lawsuit focuses on the accuracy of Ready Capital's statements regarding the quality of its commercial real estate (CRE) loans, CECL reserves, and allowances, especially as the size of its loan portfolio has more than doubled since 2023 [5]. - Allegations include misleading statements about the quality of underwriting, credit monitoring, and the loan portfolio, as well as failure to disclose significant non-performing CRE loans that were unlikely to be collected [6][7].

Core Viewpoint - Rosen Law Firm is reminding investors who purchased Ready Capital Corporation common stock during the specified Class Period of the upcoming lead plaintiff deadline on May 5, 2025 [1]. Group 1: Class Action Details - Investors who purchased Ready Capital securities between November 7, 2024, and March 2, 2025, may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - A class action lawsuit has already been filed, and interested parties must move the Court to serve as lead plaintiff by May 5, 2025 [3]. - Investors can join the class action by visiting the provided link or contacting the law firm directly for more information [6]. Group 2: Law Firm Credentials - Rosen Law Firm emphasizes the importance of selecting qualified counsel with a successful track record in securities class actions, highlighting its own achievements in this area [4]. - The firm has secured significant settlements for investors, including over $438 million in 2019 alone, and has been consistently ranked among the top firms for securities class action settlements [4]. Group 3: Case Allegations - The lawsuit alleges that during the Class Period, Ready Capital made false or misleading statements regarding its commercial real estate portfolio, including the collectibility of non-performing loans and the adequacy of reserves [5]. - It is claimed that these misrepresentations adversely affected Ready Capital's financial results and misled investors about the company's business prospects [5].

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. NEW YORK, April 01, 2025 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that a lawsuit has been filed against Ready Capit ...

Shareholders who purchased shares of RC during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery. NEW YORK, March 31, 2025 (GLOBE NEWSWIRE) -- The Gross Law Firm issues the following notice to shareholders of Ready Capital Corporation (NYSE: RC). DEADLINE: May 5, 2025 Shareholders should not delay in registering for this class action. Register your information here: https://securi ...

NEW YORK, March 31, 2025 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of Ready Capital Corporation (NYSE: RC). Shareholders who purchased shares of RC during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery. CONTACT US HERE: https://securitiesclasslaw.com/securities/ready-capital-corporation-loss-submission-form/?id=139417&from=4 CLASS PERIOD: No ...