Ready Capital (US:RC) Prnewswireยท2025-03-13 09:45Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of Ready Capital Corporation regarding a class action lawsuit due to alleged misleading statements and undisclosed information related to non-performing loans in its commercial real estate (CRE) portfolio [1]. Summary by Sections Allegations - The complaint alleges that during the class period from November 7, 2024, to March 2, 2025, Ready Capital Corporation made materially false and misleading statements [1]. - Key allegations include: 1. Significant non-performing loans in its CRE portfolio were unlikely to be collectible 2. Ready Capital intended to fully reserve these problem loans to stabilize its CRE portfolio 3. This situation was not accurately reflected in the company's expected credit loss or valuation allowances 4. Consequently, the company's financial results would be adversely affected 5. Positive statements made by the defendants regarding the company's business and prospects were materially misleading [1]. Next Steps for Shareholders - Shareholders who purchased shares during the specified class period are encouraged to register for the class action by May 5, 2025 [2]. - Upon registration, shareholders will be enrolled in a portfolio monitoring software to receive updates throughout the case lifecycle [2]. About the Gross Law Firm - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting the rights of investors affected by deceit and illegal business practices [3]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors who suffered losses due to misleading statements or omissions [3].