ROSEN, SKILLED INVESTOR COUNSEL, Encourages Broadmark Realty Capital Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action - BRMK
NEW YORK, July 24, 2025 (GLOBE NEWSWIRE) --
WHY: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of persons and entities who held common stock of Broadmark Realty Capital Inc. (NYSE: BRMK) as of the record date of the May 30, 2023 Merger (the “Merger Date”) between Broadmark and Ready Capital Corporation. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than July 28, 2025.
SO WHAT: If you held Broadmark common stock you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.
WHAT TO DO NEXT: To join the Broadmark class action, go to https://rosenlegal.com/submit-form/?case_id=42390 or call Phillip Kim, Esq. at 866-767-3653 or email case@rosenlegal.com for more information. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than July 28, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
DETAILS OF THE CASE: According to the lawsuit, the Complaint alleges that the proxy statement used to solicit the support of Broadmark shareholders for the Merger contained false and/or misleading statements and/or failed to disclose that: (1) a material portion of borrowers within Ready Capital’s originated portfolio were experiencing significant financial distress due to high interest rates that had increased their borrowing costs; (2) an oversupply of multifamily properties in Ready Capital's markets of operation had severely limited the ability of Ready Capital borrowers to raise their rents by the amounts necessary to cover their growing debt costs; (3) a major development project acquired in Ready Capital's acquisition of Mosaic Real Estate Credit, LLC, Mosaic Real Estate Credit TE, LLC, and MREC International Incentive Split, LP (a Ritz-Carlton located in Portland, Oregon), which accounted for approximately $500 million of Ready Capital’s acquired loan portfolio, had experienced catastrophic setbacks since its inception, including significant cost overruns, construction delays, and funding shortfalls; (4) as a result, Ready Capital’s Current Expected Credit Loss reserves and expected credit losses were materially understated; and (5) consequently, Ready Capital’s financial projections regarding Ready Capital’s Distributable Earnings per share, dividends per share, and book value per share had no basis in fact when made. When the true details entered the market, the lawsuit claims that investors suffered damages.
To join the Broadmark class action, go to https://rosenlegal.com/submit-form/?case_id=42390 or call Phillip Kim, Esq. at 866-767-3653 or email case@rosenlegal.com for more information.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
case@rosenlegal.com
www.rosenlegal.com
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