{"id":823283,"date":"2025-03-07T20:03:08","date_gmt":"2025-03-08T01:03:08","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/gainey-mckenna-egleston-announces-a-class-action-lawsuit-has-been-filed-against-ready-capital-corporation-rc\/"},"modified":"2025-03-07T20:03:08","modified_gmt":"2025-03-08T01:03:08","slug":"gainey-mckenna-egleston-announces-a-class-action-lawsuit-has-been-filed-against-ready-capital-corporation-rc","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/gainey-mckenna-egleston-announces-a-class-action-lawsuit-has-been-filed-against-ready-capital-corporation-rc\/","title":{"rendered":"Gainey McKenna &amp; Egleston Announces A Class\u00a0Action Lawsuit Has Been Filed Against Ready Capital Corporation (RC)"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">NEW YORK, March  07, 2025  (GLOBE NEWSWIRE) &#8212; Gainey McKenna &amp; Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of all persons or entities who purchased or otherwise acquired Ready Capital Corporation (\u201cReady Capital\u201d or the \u201cCompany\u201d) (NYSE: RC) securities between November 7, 2024 and March 2, 2025, inclusive (the \u201cClass Period\u201d).<\/p>\n<p align=\"justify\">The Complaint alleges that Defendants made misrepresentations and failed to disclose material facts concerning significant non-performing loans in the Company\u2019s portfolio that were not likely to be collectible. The truth emerged when the Company revealed it had to take \u201cdecisive actions to stabilize\u201d its \u201cbalance sheet going forward\u201d and fully reserve all non-performing loans in its CRE portfolio. This included taking approximately $382 million in reconciling items, to mark the Company\u2019s non-performing loans to current values.<\/p>\n<p align=\"justify\">Investors who purchased or otherwise acquired shares of Ready Capital should contact the Firm prior to the <strong><em>May 5, 2025<\/em><\/strong> lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna &amp; Egleston at (212) 983-1300, or via e-mail at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=T-NVDZEwdFujAaXtIrOjYnJOp3ieNJBu6sunpOGXU76URT6wGL1Ii9y4yY6yn800y7uswYQnSyu2eqDEtQ9GGGptYu64LAHiN_A8D_Lot0c=\" rel=\"nofollow\" target=\"_blank\"><u>tjmckenna@gme-law.com<\/u><\/a> or <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=x2gqWQDHdf5Y9VxavMxCRy7QFz0_JOQ3zLyalljUwKkKFDTO4gE7kpDo1n6BWdWSJJi3dHE-BftiyalDYK_7VoU59rbZui297p_Wl4SMCjs=\" rel=\"nofollow\" target=\"_blank\"><u>gegleston@gme-law.com<\/u><\/a>.<\/p>\n<p align=\"justify\">Please visit our website at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=N5gNfyy4ccyANQ5L2pbPH_Saf16Wu8SOoPuvGGLpxpCDmvvPhn4GDDVsPSWIqcSsjITnRhxhvrxppU7xUjcQzkggfe8jjlpusPyQjidwBXM=\" rel=\"nofollow\" target=\"_blank\"><u>http:\/\/www.gme-law.com<\/u><\/a> for more information about the firm.<\/p>\n<p>      <img decoding=\"async\" alt=\"\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTM5MTE3NSM2Nzk2ODI0IzIwMTc3MDQ=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" alt=\"\" src=\"https:\/\/ml.globenewswire.com\/media\/NjlhZmE5MGItODY4OS00MDZlLWI4NDUtYjFhYzg5MGRhZDYwLTEwMjkyNzQtMjAyNS0wMy0wOC1lbg==\/tiny\/Gainey-McKenna-Egleston.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>NEW YORK, March 07, 2025 (GLOBE NEWSWIRE) &#8212; Gainey McKenna &amp; Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of all persons or entities who purchased or otherwise acquired Ready Capital Corporation (\u201cReady Capital\u201d or the \u201cCompany\u201d) (NYSE: RC) securities between November 7, 2024 and March 2, 2025, inclusive (the \u201cClass Period\u201d). The Complaint alleges that Defendants made misrepresentations and failed to disclose material facts concerning significant non-performing loans in the Company\u2019s portfolio that were not likely to be collectible. The truth emerged when the Company revealed it had to take \u201cdecisive actions to stabilize\u201d its \u201cbalance sheet going forward\u201d and fully &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/gainey-mckenna-egleston-announces-a-class-action-lawsuit-has-been-filed-against-ready-capital-corporation-rc\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Gainey McKenna &amp; Egleston Announces A Class\u00a0Action Lawsuit Has Been Filed Against Ready Capital Corporation (RC)&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-823283","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Gainey McKenna &amp; Egleston Announces A Class\u00a0Action Lawsuit Has Been Filed Against Ready Capital Corporation (RC) - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/gainey-mckenna-egleston-announces-a-class-action-lawsuit-has-been-filed-against-ready-capital-corporation-rc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gainey McKenna &amp; Egleston Announces A Class\u00a0Action Lawsuit Has Been Filed Against Ready Capital Corporation (RC) - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"NEW YORK, March 07, 2025 (GLOBE NEWSWIRE) &#8212; Gainey McKenna &amp; Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of all persons or entities who purchased or otherwise acquired Ready Capital Corporation (\u201cReady Capital\u201d or the \u201cCompany\u201d) (NYSE: RC) securities between November 7, 2024 and March 2, 2025, inclusive (the \u201cClass Period\u201d). The Complaint alleges that Defendants made misrepresentations and failed to disclose material facts concerning significant non-performing loans in the Company\u2019s portfolio that were not likely to be collectible. The truth emerged when the Company revealed it had to take \u201cdecisive actions to stabilize\u201d its \u201cbalance sheet going forward\u201d and fully &hellip; Continue reading &quot;Gainey McKenna &amp; Egleston Announces A Class\u00a0Action Lawsuit Has Been Filed Against Ready Capital Corporation (RC)&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/gainey-mckenna-egleston-announces-a-class-action-lawsuit-has-been-filed-against-ready-capital-corporation-rc\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2025-03-08T01:03:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTM5MTE3NSM2Nzk2ODI0IzIwMTc3MDQ=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/gainey-mckenna-egleston-announces-a-class-action-lawsuit-has-been-filed-against-ready-capital-corporation-rc\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/gainey-mckenna-egleston-announces-a-class-action-lawsuit-has-been-filed-against-ready-capital-corporation-rc\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Gainey McKenna &amp; 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