Latest news with #ReadyCapital
Malaysian Reserve
2 days ago
- Business
- Malaysian Reserve
NOTICE: Investors File Class Action Lawsuit Against Broadmark Realty Capital Inc., Ready Capital Corporation, Others and Attorneys Announce Opportunity for Investors with Substantial Losses to Lead Cl
SAN DIEGO, June 2, 2025 /PRNewswire/ — Robbins Geller Rudman & Dowd LLP announces that holders of Broadmark Realty Capital Inc. (NYSE: BRMK) common stock as of the record date of the May 2023 merger between Broadmark and Ready Capital Corporation (NYSE: RC) ('Merger'), have until July 28, 2025 to seek appointment as lead plaintiff of the Broadmark class action lawsuit. Captioned Grant v. Broadmark Realty Capital, No. 25-cv-01013 (W.D. Wash.), the Broadmark class action lawsuit charges Broadmark, Ready Capital, certain of Broadmark's and Ready Capital's top executives and directors, and Ready Capital's external asset manager with violations of the Securities Exchange Act of 1934. If you suffered substantial losses and wish to serve as lead plaintiff of the Broadmark class action lawsuit, please provide your information here: You can also contact attorneys J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at info@ CASE ALLEGATIONS: Broadmark and Ready Capital are real estate investments trusts. On May 30, 2023, Broadmark shareholders voted to approve the merger of Broadmark and Ready Capital, which closed the next day. The Broadmark class action lawsuit 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: (i) 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; (ii) 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; (iii) 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; (iv) as a result, Ready Capital's Current Expected Credit Loss reserves and expected credit losses were materially understated; and (v) 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. The price of Ready Capital stock has remained significantly below the Merger price as of the time the Broadmark class action lawsuit was filed. The plaintiff is represented by Robbins Geller, which has extensive experience in prosecuting investor class actions including actions involving financial fraud. You can view a copy of the complaint by clicking here. THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who held Broadmark common stock as of the record date of the Merger to seek appointment as lead plaintiff in the Broadmark class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Broadmark class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Broadmark class action lawsuit. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Broadmark class action lawsuit. ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world's leading law firms representing investors in securities fraud and shareholder litigation. Our Firm has been ranked #1 in the ISS Securities Class Action Services rankings for four out of the last five years for securing the most monetary relief for investors. In 2024, we recovered over $2.5 billion for investors in securities-related class action cases – more than the next five law firms combined, according to ISS. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs' firms in the world, and the Firm's attorneys have obtained many of the largest securities class action recoveries in history, including the largest ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information: Past results do not guarantee future outcomes. Services may be performed by attorneys in any of our offices. Contact: Robbins Geller Rudman & Dowd LLP J.C. Sanchez, Jennifer N. Caringal 655 W. Broadway, Suite 1900, San Diego, CA 92101 800-449-4900 info@
Business Wire
2 days ago
- Business
- Business Wire
BRMK Investors Have Opportunity to Lead Broadmark Realty Capital Inc. Securities Fraud Lawsuit with the Schall Law Firm
LOS ANGELES--(BUSINESS WIRE)-- The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Broadmark Realty Capital Inc. ('Broadmark' or 'the Company') (NYSE: BRMK) for violations of the federal securities laws . Investors who owned the Company's securities as of the record date of the May 2023 merger between Broadmark and Ready Capital Corporation (NYSE: RC) (the "Merger"), are encouraged to contact the firm before July 28, 2025. If you are a shareholder who suffered a loss, click here to participate. We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at or by email at bschall@ The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member. According to the Complaint, the Company and Ready Capital made false and misleading statements to the market leading up to the Merger. Ready Capital's originated portfolio included borrowers suffering from financial distress due to high interest rates. Ready Capital's markets of operation had an oversupply of multifamily properties, hampering borrower's ability to raise rents. Ready Capital's Current Expected Credit Loss reserves were materially understated due to catastrophic setbacks in a major development project. Ready Capital's financial projections including dividends per share and book value per share had no basis in fact when the Merger was proposed to Broadmark shareholders. Based on these facts, the Company's public statements were false and materially misleading throughout the Merger period. When the market learned the truth about the merger, investors suffered damages. Join the case to recover your losses. The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
Business Wire
3 days ago
- Business
- Business Wire
INVESTOR ALERT: Robbins Geller Rudman & Dowd LLP Files Class Action Lawsuit Against Broadmark Realty Capital Inc., Ready Capital Corporation, Others and Announces Opportunity for Investors with Substantial Losses to Lead Lawsuit – BRMK; RC
SAN DIEGO--(BUSINESS WIRE)--The law firm of Robbins Geller Rudman & Dowd LLP announces that holders of Broadmark Realty Capital Inc. (NYSE: BRMK) common stock as of the record date of the May 2023 merger between Broadmark and Ready Capital Corporation (NYSE: RC) ('Merger'), have until July 28, 2025 to seek appointment as lead plaintiff of the Broadmark class action lawsuit. Captioned Grant v. Broadmark Realty Capital, No. 25-cv-01013 (W.D. Wash.), the Broadmark class action lawsuit charges Broadmark, Ready Capital, certain of Broadmark's and Ready Capital's top executives and directors, and Ready Capital's external asset manager with violations of the Securities Exchange Act of 1934. If you suffered substantial losses and wish to serve as lead plaintiff of the Broadmark class action lawsuit, please provide your information here: CASE ALLEGATIONS: Broadmark and Ready Capital are real estate investments trusts. On May 30, 2023, Broadmark shareholders voted to approve the merger of Broadmark and Ready Capital, which closed the next day. The Broadmark class action lawsuit 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: (i) 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; (ii) 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; (iii) 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; (iv) as a result, Ready Capital's Current Expected Credit Loss reserves and expected credit losses were materially understated; and (v) 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. The price of Ready Capital stock has remained significantly below the Merger price as of the time the Broadmark class action lawsuit was filed. The plaintiff is represented by Robbins Geller, which has extensive experience in prosecuting investor class actions including actions involving financial fraud. You can view a copy of the complaint by clicking here. THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who held Broadmark common stock as of the record date of the Merger to seek appointment as lead plaintiff in the Broadmark class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Broadmark class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Broadmark class action lawsuit. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Broadmark class action lawsuit. ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world's leading law firms representing investors in securities fraud and shareholder litigation. Our Firm has been ranked #1 in the ISS Securities Class Action Services rankings for four out of the last five years for securing the most monetary relief for investors. In 2024, we recovered over $2.5 billion for investors in securities-related class action cases – more than the next five law firms combined, according to ISS. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs' firms in the world, and the Firm's attorneys have obtained many of the largest securities class action recoveries in history, including the largest ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information: Past results do not guarantee future outcomes. Services may be performed by attorneys in any of our offices.
Yahoo
08-05-2025
- Business
- Yahoo
Ready Capital: Q1 Earnings Snapshot
NEW YORK (AP) — NEW YORK (AP) — Ready Capital Corporation (RC) on Thursday reported first-quarter profit of $79.5 million. On a per-share basis, the New York-based company said it had net income of 46 cents. Earnings, adjusted for non-recurring gains, were less than 1 cent on a per-share basis. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 12 cents per share. The real estate investment trust posted revenue of $155 million in the period. Its adjusted revenue was $14.5 million, also missing Street forecasts. Three analysts surveyed by Zacks expected $55.4 million. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on RC at Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Washington Post
08-05-2025
- Business
- Washington Post
Ready Capital: Q1 Earnings Snapshot
NEW YORK — NEW YORK — Ready Capital Corporation (RC) on Thursday reported first-quarter profit of $79.5 million. On a per-share basis, the New York-based company said it had net income of 46 cents. Earnings, adjusted for non-recurring gains, were less than 1 cent on a per-share basis. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 12 cents per share.
