ROSEN, SKILLED INVESTOR COUNSEL, Encourages Broadmark Realty Capital Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action - BRMK

Core Viewpoint - A class action lawsuit has been filed against Broadmark Realty Capital Inc. regarding the merger with Ready Capital Corporation, alleging misleading statements in the proxy statement used to solicit shareholder support for the merger [1][5]. Group 1: Lawsuit Details - The lawsuit claims that the proxy statement contained false or misleading statements and failed to disclose significant financial distress among borrowers in Ready Capital's portfolio due to high interest rates [5]. - It is alleged that an oversupply of multifamily properties limited the ability of Ready Capital borrowers to raise rents to cover growing debt costs [5]. - A major development project acquired during the merger, valued at approximately $500 million, faced catastrophic setbacks, including cost overruns and funding shortfalls [5]. - The lawsuit asserts that Ready Capital's expected credit loss reserves were materially understated, impacting financial projections regarding distributable earnings, dividends, and book value per share [5]. Group 2: Participation Information - Individuals who held Broadmark common stock as of the merger date may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - Interested parties can join the class action by visiting the provided link or contacting the law firm for more information [3][6].