According to the lawsuit, during the Class Period, defendants misrepresented the severe impact that significant non-performing loans in Ready Capital’s commercial real estate (“CRE”) portfolio were having on the Company’s business. In reality, significant non-performing loans in Ready Capital’s CRE portfolio were hampering the Company’s financial performance and were not likely to be collectible. These significant non-performing loans in Ready Capital’s CRE portfolio were not accurately reflected in its current expected credit loss (CECL) or valuation allowances and, as a result, the Company’s financial results were materially false and misleading.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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