Moore Law Encourages Ready Capital Corporation Investors to Contact Law Firm
/EIN News/ -- NEW YORK, April 23, 2025 (GLOBE NEWSWIRE) -- Moore Law, PLLC, a securities and shareholder law firm located in New York City on Wall Street, is investigating potential claims against:
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Ready Capital Corporation (NYSE:RC)
The investigation concerns non-performing loans in Ready Capital’s commercial real estate (“CRE”) portfolio that were unlikely to be collectible.
On March 3, 2025, Ready Capital reported fourth quarter 2024 net loss of $1.80 per share and full year 2024 net loss of $2.52 per share, explaining that Ready Capital had to take “decisive actions to stabilize” its “balance sheet going forward by fully reserving for all of our non-performing loans in our CRE portfolio.” This included, among other actions, taking $284 million in combined Current Expected Credit Loss and valuation allowances to mark Ready Capital’s non-performing loans to current value.
On this news, the price of Ready Capital common stock fell nearly 27%.
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