Ready Capital Corporation Common Stock (NYSE: RC)
54 Days left to seek lead plaintiff status.
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.