NYSE
RSO

Resource Capital Corp.

Shareholder Securities Fraud Litigation

Rigrodsky & Long, P.A. Announces A Securities Fraud Class Action Lawsuit Has Been Filed Against Resource Capital Corp. (NYSE: RSO)

Rigrodsky & Long, P.A. announces that a complaint has been filed in the United States District Court for the Southern District of New York on behalf of all persons or entities that purchased the common stock of Resource Capital Corp. (“Resource Capital” or the “Company”) (NYSE: RSO) between March 2, 2015 and August 4, 2015 (the “Class Period”), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).

If you purchased shares of Resource Capital during the Class Period, or purchased shares prior to the Class Period and still hold Resource Capital, and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803 at (888) 969-4242; by e-mail to info@rl-legal.com.

The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company’s business, operations and prospects.  As a result of defendants’ alleged false and misleading statements, the Company’s stock traded at artificially inflated prices during the Class Period.

According to the Complaint, on August 4, 2015, the Company issued a press release announcing its financial results for the quarter ended June 30, 2015.  The Company disclosed GAAP net loss of $31.0 million during the quarter.  Contributing to the net loss was the Company’s recording of an allowance for loan loss on a mezzanine loan position of $41.1 million in total.

On this news, shares in Resource Capital dropped over 12%, closing at $3.05 per share on August 5, 2015, on heavy trading volume.

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.  Any member of the proposed 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.

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