Case Page

 

Case Status:    ONGOING    
On or around 10/06/2016 (Ongoing date of last review)

Filing Date: September 09, 2015

According to the law firm press release, 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 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. Upon this news, shares of Resource Capital fell from a closing price of $3.48 on August 4, 2015, to a close of $3.05 the following day.

COMPANY INFORMATION:

Sector: Financial
Industry: Investment Services
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: RSO
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: S.D. New York
DOCKET #: 15-CV-07081
JUDGE: Hon. Louis L. Stanton
DATE FILED: 09/09/2015
CLASS PERIOD START: 03/02/2015
CLASS PERIOD END: 08/04/2015
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Levi & Korsinsky, LLP
    30 Broad Street, 15 1h Floor, Levi & Korsinsky, LLP, NY 10004
    212.363.7500 212.363-7171 ·
No Document Title Filing Date
COURT: S.D. New York
DOCKET #: 15-CV-07081
JUDGE: Hon. Louis L. Stanton
DATE FILED: 02/12/2016
CLASS PERIOD START: 10/31/2012
CLASS PERIOD END: 08/05/2015
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Levi & Korsinsky, LLP
    30 Broad Street, 15 1h Floor, Levi & Korsinsky, LLP, NY 10004
    212.363.7500 212.363-7171 ·
No Document Title Filing Date