Core Viewpoint - Ready Capital Corporation is facing increased scrutiny from investors due to two securities class-action lawsuits that question its financial reporting and have led to a significant decline in its stock price [1][5]. Group 1: Lawsuits and Allegations - The second lawsuit, Goebel v. Ready Capital Corporation, alleges an expanded class period from August 8, 2024, to March 2, 2025, representing investors who acquired Ready Capital common stock during this timeframe [2][3]. - The lawsuits accuse Ready Capital and its executives of violating federal securities laws by misleading investors about the company's credit metrics and downplaying issues in its commercial real estate loan portfolio [3][4]. - The Goebel complaint highlights that investors were misled about the company's financial health, with a shocking fourth-quarter net loss of $1.80 per share and a full-year loss of $2.52 per share for 2024, attributed to a $284 million reserve for underperforming loans [4]. Group 2: Market Reaction and Financial Impact - Following the announcement of the financial losses, Ready Capital's shares plummeted nearly 27%, significantly impacting shareholder equity and raising concerns about the company's risk management practices [5]. - The company's book value also experienced a sharp decline, further indicating financial distress [4]. Group 3: Investigation and Findings - Hagens Berman, a law firm, is actively investigating Ready Capital's financial disclosures during the class period and is encouraging affected investors to come forward [6][7]. - The investigation aims to determine if Ready Capital intentionally obscured the severity of its non-performing loans, which were not accurately reflected in its financial reporting [7]. - Key findings suggest that the company's performance improvement initiatives did not adequately address the risks in its commercial real estate portfolio, contradicting the CEO's assurances about stabilizing credit metrics [7].

NEW YORK, May 05, 2025 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that it has filed a lawsuit against Ready Capital Corporation (NYSE: RC) and certain of the Company’s senior executives for potential violations of the federal securities laws. If you invested in Ready Capital, you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases-investigations/ready-capital-corporation. Investors have until May 5, 2025, to ask the Court to be a ...

NEW YORK, May 5, 2025 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of Ready Capital Corporation (NYSE: RC).Shareholders who purchased shares of RC during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.CONTACT US HERE:https://securitiesclasslaw.com/securities/ready-capital-corporation-loss-submission-form/?id=146592&from=4 CLASS PERIOD: August 8 ...

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][4]. 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 [4]. - It is claimed that these non-performing loans were not accurately reflected in the company's current expected credit loss (CECL) or valuation allowances, leading to materially false and misleading financial results [4]. Financial Impact - On March 3, 2025, Ready Capital announced a financial charge of $382 million, which included $284 million related to CECL and valuation allowances on non-performing loans, and 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].

Core Viewpoint - A class action securities lawsuit has been filed against Ready Capital Corporation, alleging securities fraud that negatively impacted investors between August 8, 2024, and March 2, 2025 [1][2]. Group 1: Lawsuit Details - The complaint claims that Ready Capital made false statements regarding significant non-performing loans in its commercial real estate (CRE) portfolio, which were not likely to be collectible [2]. - It is alleged that Ready Capital intended to fully reserve these problem loans to stabilize its CRE portfolio, but this was not accurately reflected in the company's expected credit loss or valuation allowances [2]. - As a result of these actions, the company's financial results were adversely affected, and the positive statements made by the defendants about the company's business and prospects were misleading [2]. Group 2: Next Steps for Investors - Investors who suffered losses in Ready Capital during the specified timeframe have until May 5, 2025, to request to be appointed as lead plaintiff in the lawsuit [3]. - Participation in the lawsuit does not require serving as a lead plaintiff, and class members may be entitled to compensation without any out-of-pocket costs [3]. Group 3: Firm Background - Levi & Korsinsky has a history of securing hundreds of millions of dollars for shareholders and has extensive expertise in complex securities litigation [4]. - The firm has been recognized in ISS Securities Class Action Services' Top 50 Report for seven consecutive years as one of the leading securities litigation firms in the United States [4].

NEW YORK, May 01, 2025 (GLOBE NEWSWIRE) -- Ready Capital Corporation (NYSE: RC) (the “Company”) today announced that the Company will release its first quarter 2025 financial results after the New York Stock Exchange closes on Thursday, May 8, 2025. Management will host a webcast and conference call on Friday, May 9, 2025 at 8:30 a.m. Eastern Time to provide a general business update and discuss the financial results for the quarter ended March 31, 2025. Webcast:The Company encourages use of the webcast du ...

NEW ORLEANS, May 01, 2025 (GLOBE NEWSWIRE) -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have until May 5, 2025 to file lead plaintiff applications in securities class action lawsuits against Ready Capital Corporation (the “Company”) (NYSE: RC), if they purchased the Company’s shares between November 7, 2024 and March 2, 2025, inclusive (the “Class Period”). These actions are pending in the United States District Court for the Southern District of New York. Get Help Rea ...

NEW YORK, May 01, 2025 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that it has filed a lawsuit against Ready Capital Corporation (NYSE: RC) and certain of the Company’s senior executives for potential violations of the federal securities laws. If you invested in Ready Capital, you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases-investigations/ready-capital-corporation. Investors have until May 5, 2025, to ask the Court to be a ...

NEW YORK, May 1, 2025 /PRNewswire/ - The Gross Law Firm issues the following notice to shareholders of Ready Capital Corporation (NYSE: RC).Shareholders who purchased shares of RC during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.CONTACT US HERE:https://securitiesclasslaw.com/securities/ready-capital-corporation-loss-submission-form/?id=146156&from=4CLASS PERIOD: August 8, ...

NEW YORK, April 30, 2025 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of common stock of Ready Capital Corporation (NYSE: RC) between November 7, 2024 and March 2, 2025, both dates inclusive (the “Class Period”), of the important May 5, 2025 lead plaintiff deadline. SO WHAT: If you purchased Ready Capital securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrang ...