Ready Capital Corp. officers and directors are responsible for failing to disclose “significant” non-performing commercial real estate loans that would affect the company’s financial results and stock price, an investor alleged Wednesday.
Ready Capital’s directors and top executives repeatedly touted the real estate finance company’s success, particularly due to its commercial real estate portfolio, Jack Pittrof says on behalf of the company. He filed his shareholder derivative suit in the US District Court for the Southern District of New York.
The 27% stock drop when the company reported 2024 losses March 3—closing at $5.07 per share that day—was the stock’s ...
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