RC Investors Have the Opportunity to Lead the Ready Capital Securities Fraud Lawsuit with Faruqi & Faruqi, LLP

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Ready Capital Corporation due to allegations of violations of federal securities laws, particularly concerning misleading statements about the company's financial health and non-performing loans [2][4]. Group 1: Legal Investigation and Class Action - The law firm is encouraging investors who suffered losses exceeding $50,000 in Ready Capital between November 7, 2024, and March 2, 2025, to contact them for legal options [1]. - There is a deadline of May 5, 2025, for investors to seek the role of lead plaintiff in a federal securities class action against Ready Capital [2]. - The complaint alleges that Ready Capital and its executives made false or misleading statements regarding the collectability of significant non-performing loans in its commercial real estate (CRE) portfolio [4]. Group 2: Financial Performance and Market Reaction - On March 3, 2025, Ready Capital reported a fourth quarter net loss of $1.80 per share and a full year 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 mark its non-performing loans to current values [5]. - Following the announcement of these financial results, Ready Capital's stock price fell by $1.86, or 26.8%, closing at $5.07 per share on March 3, 2025, with unusually heavy trading volume [6].