Johnson Fistel, PLLP Investigates Ready Capital on Behalf of Long-term Shareholders

Shareholder rights law firm Johnson Fistel, PLLP is investigating potential violations of federal and state securities laws by certain officers and directors of Ready Capital Corporation (NYSE: RC). Current, long-term shareholders that have continuously held shares during the relevant time periods, may be able to hold certain officers and directors personally accountable for misconduct and assist in reforming the company’s corporate governance.

A class action lawsuit was filed on March 6, 2025, in the U.S. District Court for the Southern District of New York on behalf of investors who purchased shares between November 7, 2024, and March 2, 2025. The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, the Complaint alleges Defendants failed to disclose to investors: (1) that significant non-performing loans in its CRE portfolio were not likely to be collectible; (2) that Ready Capital would fully reserve these problem loans in order to “stabilize” its CRE portfolio; (3) that this was not accurately reflected in Ready Capital’s current expected credit loss or valuation allowances; (4) that, as a result, the Company’s financial results would be adversely affected; and (5) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.