RC DEADLINE TODAY: Lose Money on Ready Capital? Contact BFA Law by Today's May 5 Legal 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, focusing on misrepresentation of the company's financial health due to non-performing loans [1][2]. Company Overview - Ready Capital is a real estate finance company that specializes in originating, acquiring, financing, and servicing lower-to-middle-market commercial real estate loans, small business administration loans, and other real estate-related investments [3]. Allegations - The lawsuit alleges that the defendants misrepresented the impact of significant non-performing loans in Ready Capital's commercial real estate portfolio, which were adversely affecting the company's financial performance and were unlikely to be collectible. This misrepresentation led to materially false and misleading financial results [4]. Financial Impact - On March 3, 2025, Ready Capital disclosed a financial charge of $382 million, which included $284 million related to combined current expected credit loss (CECL) and valuation allowances on non-performing 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].