INVESTOR ALERT: Pomerantz Law Firm Reminds Investors with Losses on their Investment in Broadmark Realty Capital Inc. of Class Action Lawsuit and Upcoming Deadlines - BRMK

Core Viewpoint - A class action lawsuit has been filed against Broadmark Realty Capital Inc. for alleged securities fraud and unlawful business practices related to a merger [2][3]. Group 1: Lawsuit Details - The lawsuit claims that Broadmark's proxy statement for the merger contained false or misleading statements and failed to disclose critical financial distress among borrowers in Ready Capital's portfolio due to high interest rates [3]. - It is alleged that an oversupply of multifamily properties in Ready Capital's markets limited borrowers' ability to raise rents to cover growing debt costs [3]. - A significant development project acquired during the merger, valued at approximately $500 million, faced catastrophic setbacks, including cost overruns and construction delays [3]. - The lawsuit asserts that Ready Capital's Current Expected Credit Loss reserves and expected credit losses were materially understated, impacting financial projections regarding Distributable Earnings per share, dividends per share, and book value per share [3]. Group 2: Legal Representation - Pomerantz LLP, a firm recognized for its expertise in corporate, securities, and antitrust class litigation, is representing the class in this lawsuit [4].