NEW YORK--(EON: Enhanced Online News)--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 stockholders.
On November 14, 2016, Resource Capital revealed to investors disappointing results 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.
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 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 J. Brandon Walker, Esq. by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information, please go to www.bespc.com.