Complaint — No. 1:25-cv-01883 (Dkt. 39, S.D.N.Y.)

Summary

The Consolidated Amended Complaint for Violations of the Federal Securities Laws in In re Ready Capital Corporation Securities Litigation, Case No. 1:25-cv-01883-PAE, in the U.S. District Court for the Southern District of New York, filed September 8, 2025 as Document 39 by Lead Plaintiff Allan T. Parr Jr. through Levi & Korsinsky, LLP. It asserts class claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 against Ready Capital, Thomas E. Capasse, Andrew Ahlborn and Adam Zausmer for buyers of Ready Capital common stock between August 8, 2024 and March 2, 2025. The complaint alleges that management concealed the imminent default of a $460 million Portland construction loan acquired in the Mosaic merger until March 3, 2025, when Ready Capital announced a $130 million impairment allowance and cut its dividend by 50%. It demands a jury trial and damages.

Summary drafted by a model from the text of the original file linked on this page and checked by script against that text before publication. It is a navigation aid, not a reading of what the document proves. Where AI is used