Urgent Alert for Ready Capital Corporation Investors on Legal Action
Important Notice to Ready Capital Corporation Investors
The Gross Law Firm is reaching out to shareholders of Ready Capital Corporation (NYSE: RC) regarding an important class action lawsuit. If you purchased shares during a specified class period, this notice is crucial for you.
Class Action Information
Shareholders are urged to make contact with the Gross Law Firm if they acquired shares of Ready Capital Corporation during the class period mentioned. You do not need to be appointed as a lead plaintiff to benefit from any potential recovery.
Timeline and Allegations
Class Period: The timeline for the class action is set from November 7, 2024, to March 2, 2025. During this period, it is alleged that the defendants made materially false or misleading statements regarding the company's financial health. They purportedly failed to disclose significant issues within its commercial real estate (CRE) portfolio, specifically regarding non-performing loans. It is claimed that the company would need to fully reserve against these loans to stabilize its portfolio, which was not communicated clearly to investors.
Details of the Allegations
The complaint outlines five main accusations against the defendants, which include the following: not recognizing the likelihood of collecting on significant non-performing loans, failing to accurately represent financial reserves, and presenting misleading information about the company’s business operations and prospects. Such misrepresentation, it is proposed, would significantly distort the financial results, misleading investors.
Key Deadlines for Action
Attention to this matter is urgent. The deadline for shareholders to register for this class action lawsuit is May 5, 2025. Shareholders are encouraged to ensure their information is recorded promptly to avoid missing out on potential recovery.
Next Steps for Investors
Upon registering, shareholders will be enrolled in a monitoring system keeping them updated throughout the litigation process. This is without any cost or obligation, and it serves to protect the interests of those who have faced losses as a result of the alleged misconduct.
Why Choose the Gross Law Firm?
The Gross Law Firm stands out for its commitment to safeguarding the rights of investors. Recognized nationally, the firm seeks justice for those adversely affected by fraudulent acts and unethical business practices. Their objective is to ensure companies follow responsible commercial conduct and respond appropriately to their investor community.
Contact Information for the Gross Law Firm
If you are a shareholder looking to understand your rights or to seek assistance with this class action lawsuit, reach out to the Gross Law Firm directly. They are located at:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY 10018
Phone: (646) 453-8903
Frequently Asked Questions
What is the purpose of this class action lawsuit?
This class action lawsuit aims to represent investors who suffered losses due to alleged misleading statements by Ready Capital Corporation.
Who can participate in this class action?
Any shareholders who purchased shares of Ready Capital during the defined class period are eligible to participate.
What are the deadlines I should be aware of?
The key deadline for registering in this class action is May 5, 2025, so it is essential to act promptly.
Will there be any cost to participate?
No, there is no financial obligation for shareholders to join this class action lawsuit.
How can I get updates regarding this case?
By registering as a shareholder, you will receive ongoing updates via monitoring software about the status of the class action lawsuit.
About The Author
Contact Ryan Hughes privately here. Or send an email with ATTN: Ryan Hughes as the subject to contact@investorshangout.com.
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