SOURCE: Levi & Korsinsky, LLP

Levi & Korsinsky, LLP

September 16, 2015 16:57 ET

SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Shareholders of Resource Capital Corp. of Pendency of Class Action Lawsuit and a Lead Plaintiff Deadline of November 9, 2015 -- RSO

NEW YORK, NY--(Marketwired - Sep 16, 2015) - The following statement is being issued by Levi & Korsinsky, LLP:

To: All persons or entities who purchased or otherwise acquired securities of Resource Capital Corp. ("Resource Capital") (NYSE: RSO) between March 2, 2015 and August 4, 2015

You are hereby notified that a securities class action lawsuit has been commenced in the USDC for the Southern District of New York. If you purchased or otherwise acquired Resource Capital securities between March 2, 2015 and August 4, 2015, your rights may be affected by this action. To get more information go to:

http://zlk.9nl.com/resource-capital-rso

or contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

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.

If you suffered a loss in Resource Capital you have until November 9, 2015 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact Information

  • CONTACT:
    Levi & Korsinsky, LLP
    Joseph E. Levi, Esq.
    30 Broad Street - 24th Floor
    New York, NY 10004
    Tel: (212) 363-7500
    Toll Free: (877) 363-5972
    Fax: (212) 363-7171
    www.zlk.com