RC LEGAL REMINDER: Did Ready Capital Commit Securities Fraud? Contact BFA Law before May 5 Court 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]. Group 1: Lawsuit Details - The lawsuit is pending in the U.S. District Court for the Southern District of New York, titled Quinn v. Ready Capital Corporation, et al., No. 25-cv-01883, and investors have until May 5, 2025, to seek lead plaintiff status [2]. - The complaint alleges violations 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 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, residential mortgage loans, and other real estate-related investments [3]. Group 3: Allegations of Misrepresentation - Ready Capital allegedly 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 market conditions, while in reality, it was suffering from non-performing loans [4]. Group 4: Financial Impact - On March 3, 2025, Ready Capital disclosed a $382 million charge, which included $284 million in combined Current Expected Credit Losses (CECL) and valuation allowances on nonperforming loans, and announced 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].