NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights firm, announces that a class action lawsuit has been filed on behalf of all purchasers of Resource Capital Corp. (NYSE: RSO) securities from March 2, 2015 through April 4, 2015. The lawsuit seeks to recover investors’ losses under the federal securities laws.
To join the Resource Capital class action, visit the firm’s website at http://www.rosenlegal.com/cases-713.html, or contact Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or via email at email@example.com or firstname.lastname@example.org for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN AN ABSENT CLASS MEMBER.
According to the lawsuit, Defendants issued materially false and misleading statements and/or failed to disclose material information regarding the risk of Resource Capital’s commercial loans portfolio and its processes and controls for assessing the quality of its portfolio. On August 4, 2015, Resource Capital revealed a GAAP net loss of $31.0 million for the quarter ended June 30, 2015, and a recording of a $41.1 million allowance for loan loss. On this news, shares of Resource Capital fell $0.43 per share, or over 12%, from its previous closing price to close at $3.05 on August 5, 2015.
If you wish to serve as lead plaintiff, you must move the Court no later than November 9, 2015. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to the firm’s website at http://www.rosenlegal.com/cases-713.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. or Kevin Chan, Esq. of Rosen Law Firm toll-free at 866-767-3653 or via e-mail at email@example.com or firstname.lastname@example.org.
Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.