Cases
Resource Capital Corp (NYSE: RSO)
Securities Class Action
Overview
Overview
- Date:
- 1/13/2017
- Status:
- Closed/Complete
- Court:
- U.S. District Court: District of Southern California
NEW YORK, January 13, 2017 – Bragar Eagel & Squire, P.C. is investigating potential claims against the board of directors of Resource Capital Corp (NYSE: RSO) concerning whether the board has breached its fiduciary duties to shareholders.
On November 14, 2016, Resource Capital revealed to investors disappointing results in its Form 8-K for the period ended September 30, 2016, including funds from operations of $12.9 million, or $0.42 per share, and a loss of $51.6 million, or $1.69 per share on revenues of $17.2 million. On a conference call with investors, Resource Capital CEO Robert Lieber attributed the Company’s poor performance in part to disconnected business lines and vowed to divest in certain Company assets to improve performance. Following this news, the Company’s shares fell $3.60 per share, or almost 30%, to close on November 14, 2016 at $8.57 on unusually high volume.
If you purchased Resource Capital securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
On November 14, 2016, Resource Capital revealed to investors disappointing results in its Form 8-K for the period ended September 30, 2016, including funds from operations of $12.9 million, or $0.42 per share, and a loss of $51.6 million, or $1.69 per share on revenues of $17.2 million. On a conference call with investors, Resource Capital CEO Robert Lieber attributed the Company’s poor performance in part to disconnected business lines and vowed to divest in certain Company assets to improve performance. Following this news, the Company’s shares fell $3.60 per share, or almost 30%, to close on November 14, 2016 at $8.57 on unusually high volume.
If you purchased Resource Capital securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.