LEGAL NOTICE: Ready Capital (NYSE:RC) Investors are Notified of the May 5 Securities Fraud Class Action Deadline - Contact BFA Law

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 in the market, while in reality, it 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 for the fourth quarter of 2024, 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%, from $6.93 per share at the close on February 28, 2025, to $5.07 per share at the close on March 3, 2025 [6].