RC FINAL DEADLINE ALERT: Class Period Expanded in Ready Capital (RC) Securities Class Action, Investors with Losses Encouraged to Contact Hagens Berman Before May 5th Deadline

San Francisco, California--(Newsfile Corp. - May 4, 2025) - Ready Capital Corporation (NYSE: RC), a New York-based real estate finance firm, is grappling with intensifying investor scrutiny after being named in two securities class-action lawsuits that have cast a shadow over its financial reporting and sent its stock tumbling.

Most recently, on April 23, 2025, a second lawsuit, styled Goebel v. Ready Capital Corporation, et al., No. 1:25-cv-03373 (S.D.N.Y.) alleges an expanded class period. The Goebel suit seeks to represent investors who purchased or otherwise acquired Ready Capital common stock between August 8, 2024 and March 2, 2025.

Hagens Berman is investigating the alleged claims and urges investors who purchased Ready Capital shares and suffered substantial losses to submit your losses now.

The firm also encourages persons with knowledge who may assist the firm's investigation to contact its attorneys.

Expanded Class Period: Aug. 8, 2024 - Mar. 2, 2025
Lead Plaintiff Deadline: May 5, 2025
Visit: www.hbsslaw.com/investor-fraud/rc
Contact the Firm Now: [e-mail]
844-916-0895

The Goebel Ready Capital (RC) Securities Class Action:

The lawsuit accuses the company and several top executives of violating federal securities laws. Central to the complaint are allegations that Ready Capital repeatedly assured investors that the company was seeing improving credit metrics across its loan portfolio while downplaying the extent of trouble in its commercial real estate (CRE) loan portfolio, particularly regarding a sizable tranche of loans that were not performing as expected.

More specifically, the Goebel complaint alleges that Ready Capital issued statements that were either misleading or omitted critical information about the true state of its business. Among the key contentions:

• Significant non-performing loans in Ready Capital's CRE portfolio were hampering its financial performance and were not likely to be collectible;
• The company's performance improvement initiatives failed to "further derisk[]" the CRE portfolio;
• In contrast to CEO Thomas E. Capasse's repeated assurances that the company's loan portfolio showed stabilizing credit metrics, the credit metrics were not stabilizing; and
• The significant non-performing loans in Ready Capital's CRE portfolio were not accurately reflected in the company's expected credit loss or valuation allowance and, as a result, the company's financial reporting was materially false and misleading.

Investors learned the truth on March 3, 2025, when Ready Capital stunned the market with a fourth-quarter net loss of $1.80 per share and a full-year loss of $2.52 per share for 2024. The company attributed the downturn to "decisive actions" taken to strengthen its balance sheet, including a sweeping $284 million reserve for underperforming CRE loans. The company also halved its quarterly dividend and reported a sharp drop in book value.