Glancy Prongay & Murray LLP Commences Investigation on Behalf of Resource Capital Corp. Investors
December 22 2016 - 4:16PM
Business Wire
Glancy Prongay & Murray LLP (“GPM”) announces an
investigation on behalf of Resource Capital Corp. (“RSO” or the
“Company”) (NYSE: RSO) investors concerning the Company and its
officers’ possible violations of federal securities laws.
On November 14, 2016, RSO revealed to investors disappointing
results for the period ended September 30, 2016, including funds
from operations of $12.9 million, or 42 cents 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, RSO CEO Robert Lieber
attributed the Company’s poor performance in part to disconnected
business lines and vowed to divest certain Company assets to
improve performance.
On 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 RSO 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 Lesley Portnoy, Esquire, of GPM, 1925
Century Park East, Suite 2100, Los Angeles, California 90067 at
310-201-9150, Toll-Free at 888-773-9224, by email to
shareholders@glancylaw.com, or visit our website at
http://www.glancylaw.com. If you inquire by email please include
your mailing address, telephone number and number of shares
purchased.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: http://www.businesswire.com/news/home/20161222005771/en/
Glancy Prongay & Murray LLP, Los Angeles/New YorkLesley
Portnoy, 310-201-9150 or
888-773-9224shareholders@glancylaw.comwww.glancylaw.com
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