RC INVESTOR NEWS: Ready Capital Investors may be able to Recover Losses in Class Action Lawsuit -- Contact BFA Law before May 5 Deadline (NYSE:RC)

Core Viewpoint - A lawsuit has been filed against Ready Capital Corporation and its senior executives for potential violations of federal securities laws, specifically related to misrepresentation of the company's credit performance and financial health [1][2][4]. Company Overview - Ready Capital is a real estate finance company that focuses on originating, acquiring, financing, and servicing lower-to-middle-market commercial real estate loans, small business administration loans, residential mortgage loans, and other real estate-related investments [3]. Allegations - The lawsuit alleges that Ready Capital misrepresented the credit performance of its loans, claiming that its commercial real estate (CRE) portfolio was showing stabilizing credit metrics and was well-positioned to benefit from favorable market conditions, while in reality, the portfolio was suffering from non-performing loans and had not stabilized [4]. Financial Impact - On March 3, 2025, Ready Capital disclosed a financial charge of $382 million, which included $284 million in Current Expected Credit Losses (CECL) and valuation allowances on nonperforming loans. Additionally, the company announced a reduction in its dividend to $0.125 per share [5]. - Following this announcement, Ready Capital's stock price fell nearly 27%, dropping from $6.93 per share on February 28, 2025, to $5.07 per share on March 3, 2025 [6].