NEW YORK, March 07, 2025 (GLOBE NEWSWIRE) -- Bernstein Liebhard LLP announces that a shareholder has filed a securities class action lawsuit on behalf of investors (the “Class”) who purchased or acquired the securities of Ready Capital Corporation (“Ready Capital” or the “Company”) (NYSE: RC) between November 7, 2024 and March 2, 2025, inclusive.
For more information, submit a form at Ready Capital Corporation Shareholder Class Action Lawsuit, email Investor Relations Manager Peter Allocco at pallocco@bernlieb.com, or call us at (212) 951-2030.
According to the lawsuit, Defendants made misrepresentations and failed to disclose material facts concerning significant non-performing loans in the Company’s portfolio that were not likely to be collectible. The truth emerged when the Company revealed it had to take “decisive actions to stabilize” its “balance sheet going forward” and fully reserve all non-performing loans in its CRE portfolio. This included taking approximately $382 million in reconciling items, to mark the Company’s non-performing loans to current values.
If you wish to serve as lead plaintiff for the Class, you must file papers by May 5, 2025. A lead plaintiff is a representative party acting on other class members’ behalf in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for sixteen consecutive years.
ATTORNEY ADVERTISING. © 2025 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
Contact Information:
Peter Allocco
Investor Relations Manager
Bernstein Liebhard LLP
https://www.bernlieb.com
(212) 951-2030
pallocco@bernlieb.com
