February 26, 2018
Resource Capital Corp. is off the hook for claims that directors and officers misled investors about a loan that led to a $41 million loss, with a New York federal court tossing several shareholder suits lodged against the real estate investment trust after its board refused to sue the directors and officers itself.
November 15, 2017
Shareholders of the real estate investment trust Resource Capital Corp. who say the company's board is responsible for a $41 million loss on a loan backed by Puerto Rican hotels urged a New York federal judge on Tuesday not to dismiss their suit, saying that when the board looked into the loss it had a "predetermined outcome" in mind: to let directors off the hook.
September 18, 2017
Resource Capital Corp. asked a New York federal court Friday to toss a handful of derivative suits alleging the real estate investment trust misled investors over a failed $40 million Puerto Rican loan portfolio, saying the investors haven’t cleared the legal hurdle necessary to bring derivative litigation in the first place.
May 10, 2017
A New York federal judge has declined to combine three derivative suits accusing directors of Resource Capital Corp. of mishandling a Puerto Rico hotel loan portfolio that prompted a $41 million write-down in August 2015, calling a bid for co-lead counsel unnecessary.
February 24, 2017
The directors of Resource Capital Corp. were hit with yet another derivative suit in New York federal court accusing them of mishandling a Puerto Rico hotel loan portfolio that prompted a $41 million write-down in August 2015, with a shareholder alleging Thursday that his demand for the board to investigate was refused.