NEW YORK, Nov. 17, 2016 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Resource Capital Corp. ("RSO" or the "Company") (NYSE: RSO). Such investors are advised to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/rso.
The investigation concerns whether RSO and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On November 14, 2016, RSO announced its disappointing financial results for the period ended September 30, 2016. The reports contained 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. Then on a conference call with shareholders, Robert Lieber, RSO's Chief Executive Officer credited its poor performance to disconnected business lines and assured investors that the Company would improve performance. Following this news, RSO stock dropped $3.60 per share, or roughly 30%, to close on November 14, 2016 at $8.57 on unusually high volume.
If you are aware of any facts relating to this investigation, or purchased RSO shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/rso. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.