NEW YORK, March 13, 2025 (GLOBE NEWSWIRE) -- Ready Capital Corporation (NYSE: RC) (“Ready Capital” or the “Company”) today announced that it has completed the previously announced acquisition of United Development Funding IV (“UDF IV”) (the “Merger”) pursuant to the terms of the Agreement and Plan of Merger, dated as of November 29, 2024, by and among Ready Capital, RC Merger Sub IV, LLC, and UDF IV. The combined company will conduct business under the name “Ready Capital Corporation” and will continue to t ...

IRVING, Texas, March 13, 2025 (GLOBE NEWSWIRE) -- United Development Funding IV ("UDF IV") announced today that on March 4, 2025, its board of trustees authorized a cash distribution of $2.3785 per share payable on or around March 13, 2025, to shareholders of record at the close of business on March 4, 2025, or approximately $73 million in the aggregate. This distribution is contemplated by the merger agreement between UDF IV and Ready Capital Corporation (NYSE:RC). Including the approximately $2 million di ...

IRVING, Texas, March 13, 2025 (GLOBE NEWSWIRE) -- United Development Funding IV (“UDF IV”) announced today that on March 4, 2025, its board of trustees authorized a cash distribution of $2.3785 per share payable on or around March 13, 2025, to shareholders of record at the close of business on March 4, 2025, or approximately $73 million in the aggregate. This distribution is contemplated by the merger agreement between UDF IV and Ready Capital Corporation (NYSE: RC). Including the approximately $2 million d ...

NEW YORK, March 13, 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=135501&from=4CLASS PERIOD: Novemb ...

Core Viewpoint - Investors in Ready Capital Corporation have until May 5, 2025, to file lead plaintiff applications in a securities class action lawsuit due to alleged failure to disclose material information during the Class Period [1][3]. Group 1: Lawsuit Details - The lawsuit against Ready Capital and certain executives is based on violations of federal securities laws for not disclosing material information during the Class Period, which spans from November 7, 2024, to March 2, 2025 [3]. - The case is identified as Quinn v. Ready Capital Corporation, et al., No. 25-cv-1883 [5]. Group 2: Financial Performance - On March 3, 2025, Ready Capital reported a quarterly net loss of $1.80 per share and a full year 2024 net loss of $2.52 per share, attributed to actions taken to stabilize the balance sheet by fully reserving for nonperforming loans [4]. - The company took $284 million in combined Current Expected Credit Loss and valuation allowances to mark non-performing loans to current values [4]. Group 3: Market Reaction - Following the financial results announcement, Ready Capital's share price fell over 26%, closing at $5.07 per share on March 3, 2025, with unusually heavy trading volume [5].

Core Viewpoint - A class action lawsuit has been filed against Ready Capital Corporation for misleading statements regarding its financial health and non-performing loans during the specified Class Period from November 7, 2024, to March 2, 2025 [1][5]. Group 1: Lawsuit Details - The lawsuit claims that Ready Capital made false and/or misleading statements about significant non-performing loans in its commercial real estate portfolio, which were not likely to be collectible [5]. - It is alleged that Ready Capital would fully reserve these problem loans to stabilize its portfolio, which was not accurately reflected in its expected credit loss or valuation allowances [5]. - The misleading statements resulted in adverse effects on Ready Capital's financial results, impacting the company's positive outlook on its business and operations [5]. Group 2: Participation Information - Shareholders who purchased Ready Capital securities during the Class Period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - Interested parties can join the class action by visiting the provided link or contacting the law firm directly for more information [3][6]. - A lead plaintiff must file a motion with the court by May 5, 2025, to represent other class members in the litigation [1][3]. Group 3: Law Firm Credentials - The Rosen Law Firm has a strong track record in securities class actions, having achieved significant settlements, including the largest securities class action settlement against a Chinese company at the time [4]. - The firm has consistently ranked highly in securities class action settlements and has recovered hundreds of millions of dollars for investors [4]. - In 2019, the firm secured over $438 million for investors, showcasing its capability in handling such cases [4].

Core Viewpoint - A class action lawsuit has been filed against Ready Capital Corporation for misleading statements regarding its financial health and non-performing loans during the specified Class Period from November 7, 2024, to March 2, 2025 [1][5]. Group 1: Lawsuit Details - The lawsuit claims that Ready Capital made false and/or misleading statements about significant non-performing loans in its commercial real estate portfolio, which were not likely to be collectible [5]. - It is alleged that Ready Capital would fully reserve these problem loans to stabilize its portfolio, but this was not accurately reflected in its expected credit loss or valuation allowances [5]. - As a result of these issues, Ready Capital's financial results were adversely affected, and its positive statements about the company's business and prospects were materially misleading [5]. Group 2: Class Action Participation - Shareholders who purchased Ready Capital securities during the Class Period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - Interested parties can join the class action by visiting the provided link or contacting the law firm directly [3][6]. - A lead plaintiff must move the Court by May 5, 2025, to represent other class members in the litigation [1][3]. Group 3: Law Firm Credentials - The Rosen Law Firm has a strong track record in securities class actions, having achieved significant settlements, including the largest securities class action settlement against a Chinese company at the time [4]. - The firm has been consistently ranked among the top firms for securities class action settlements and has recovered hundreds of millions of dollars for investors [4].

SAN DIEGO, March 11, 2025 /PRNewswire/ -- Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Ready Capital Corporation (NYSE: RC) common stock between November 7, 2024 and March 2, 2025, both dates inclusive (the "Class Period"), have until May 5, 2025 to seek appointment as lead plaintiff of the Ready Capital class action lawsuit.  Captioned Quinn v. Ready Capital Corporation, No. 25-cv-01883 (S.D.N.Y.), the Ready Capital class action lawsuit charges Ready Capital as well as certain ...

NEW YORK, March 11, 2025 /PRNewswire/ -- Pomerantz LLP announces that a class action lawsuit has been filed against Ready Capital Corporation ("Ready" or the "Company") (NYSE: RC). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.The class action concerns whether Ready and certain of its officers ...

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $50,000 In Ready Capital To Contact Him Directly To Discuss Their Options If you suffered losses exceeding $50,000 in Ready Capital between November 7, 2024 and March 2, 2025 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). [You may also click here for additional information] NEW YORK, March 11, 2 ...