ALERT: Morgan & Morgan Reminds Investors That a Class Action Lawsuit Has Been Filed Against Resource Capital Corp. and of the November 9, 2015 Lead Plaintiff Deadline – RSO

NEW YORK, Oct. 27, 2015 (GLOBE NEWSWIRE) — Morgan & Morgan reminds investors that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of purchasers of Resource Capital Corp. (“Resource Capital” or the “Company”) (NYSE:RSO) common stock  from March 2, 2015 through August 4, 2015, inclusive (the “Class Period”).  The lawsuit seeks to recover damages for Resource Capital investors under the federal securities laws.

If you purchased Resource Capital common stock during the Class Period, you may, no later than November 9, 2015, request that the Court appoint you lead plaintiff of the proposed class. A lead plaintiff is a representative party that acts on behalf of all class members in directing the litigation. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

If you want more information about the Resource Capital Securities Class Action, contact Morgan & Morgan at 1(800) 732-5200 or email info@morgansecuritieslaw.com.

The complaint alleges that throughout the Class Period, Resource Capital and certain of its executive officers and directors issued materially false and/or misleading information regarding the risk of the Company’s commercial loans portfolio and its processes and controls for assessing the quality of its portfolio. On August 4, 2015, Resource Capital disclosed a GAAP net loss of $31.0 million during the quarter ended June 30, 2015, citing the recording of a $41.1 million allowance for loan loss.

Following this news, the price of Resource Capital common stock fell from $3.48 per share on August 4, 2015, to a close of $3.05 per share on August 5, 2015.

About Morgan & Morgan

Morgan & Morgan is one of the nation’s largest 200 law firms.  In addition to shareholder rights, the firm also practices in the areas of antitrust, personal injury, consumer protection, overtime, and product liability.  All of the Firm’s legal endeavors are rooted in its core mission: provide investor and consumer protection and always fight “for the people.”

Attorney advertising. Prior results do not guarantee a similar outcome.

CONTACT: Contact:
Morgan & Morgan
Peter Safirstein, Esq.
28 West 44th Street
Suite 2001
New York, NY  10036
1-800-732-5200
info@morgansecuritieslaw.com

Left Menu Icon
Right Menu Icon