Investors Urged to Join Class Action Against Ready Capital
Investors Taking Action Against Ready Capital Corporation
Investors are being notified about a significant class action lawsuit involving Ready Capital Corporation (NYSE: RC). The firm behind this alert, Kahn Swick & Foti, LLC (KSF), is reaching out to those who have sustained losses exceeding $100,000 during a specific time frame. This legal action is geared towards investors who are eager to enforce their rights and potentially recover their losses.
Important Deadlines for Claimants
For those who purchased shares of Ready Capital Corporation between specific dates, it is crucial to note that the deadline to file lead plaintiff applications in the ongoing class action lawsuit is fast approaching. Interested investors must take action before the looming deadline, ensuring they are positioned to contribute to the case. This step is vital for anyone wanting to take a lead role in this legal pursuit.
How to Prepare Your Case
If you are affected and would like to learn more about your rights in this situation, KSF offers confidential consultations at no cost. Investors can reach out to KSF Managing Partner Lewis Kahn with any questions or concerns. This legal team is prepared to provide guidance and may assist you in understanding how these proceedings might affect your investments.
Understanding the Allegations Against Ready Capital
Ready Capital Corporation and certain executives face serious allegations related to their disclosure practices during the relevant class period. Claims are primarily focused on failing to reveal key financial information that could impact investor decision-making.
Pivotal to the allegations, a report was released detailing the company’s fourth-quarter financial results, revealing significant losses that raised concerns among shareholders. Specifically, Ready Capital disclosed a quarterly net loss of $1.80 per share, invoking worries as the firm had made decisive moves to stabilize its balance sheet. These decisions included reserving substantial funds for nonperforming loans and marking these loans at their current values.
Impact on Shareholder Value
The company's revelation led to a sharp decline in its share price, plummeting over 26% to close at just $5.07 per share based on heavy trading volume. This rapid depreciation has alarmed many investors and raised questions regarding the firm’s future performance.
Joining the Class Action Lawsuit
For investors eager to join the legal battle, it’s imperative to understand that participation in the class action can be a complex process. Those wishing to assume the role of lead plaintiff must submit a formal petition to the court by the deadline. Engaging in this process can allow individuals to assume a more active role in shaping the case against Ready Capital Corporation.
The case in question is known as Quinn v. Ready Capital Corporation, et al., No. 25-cv-1883, and emphasizes the need for careful consideration for those who have faced financial impacts due to potential corporate misconduct.
About Kahn Swick & Foti, LLC
KSF is recognized as one of the premier law firms specializing in securities litigation, comprising a team of attorneys with extensive experience in handling investor rights issues. The firm, led by seasoned professionals including former Attorney General Charles C. Foti, Jr., is dedicated to representing investors in their pursuit of justice. KSF has made significant strides in the legal landscape, noted for securing substantial settlements for clients affected by corporate wrongdoing.
This past year, KSF has received accolades for its performance in navigating complex legal matters and advocating on behalf of both institutional and retail investors. The firm maintains a robust national presence, with offices strategically located to support clients across the United States.
Frequently Asked Questions
What is the class action lawsuit about?
The lawsuit targets Ready Capital Corporation, addressing allegations of failing to disclose significant financial information that may have affected stock prices and investor decisions.
Who can participate in the lawsuit?
Investors who purchased shares of Ready Capital and experienced losses exceeding $100,000 during the specified class period are eligible to participate.
How can I contact Kahn Swick & Foti for assistance?
Investors can reach KSF Managing Partner Lewis Kahn by calling 1-877-515-1850 or via the firm's official website for legal inquiries.
What are the potential outcomes of the lawsuit?
Successful participation can lead to financial recovery for investors who suffered losses due to the alleged misrepresentation by Ready Capital Corporation.
When is the deadline to file a claim?
The deadline for investors to file lead plaintiff applications is May 5, 2025. It is crucial to act swiftly to preserve rights in the case.
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