SAN FRANCISCO, April 10, 2025 — A fresh wave of scrutiny is hitting Ready Capital Corporation (NYSE: RC), as national law firm Girard Sharp LLP has launched an investigation on behalf of former Broadmark Realty Capital (NYSE: BRMK) investors who received Ready Capital shares in the companies’ May 2023 merger.
The investigation is centered on whether Ready Capital may have concealed critical risks tied to its commercial real estate loan portfolio at the time of the acquisition. Since the transaction closed, Ready Capital’s stock has plunged more than 50%, sparking questions from investors and prompting legal action.
Alarming Financial Moves Spark Concerns
The red flags emerged in early March 2025, when Ready Capital issued a statement saying it had taken “decisive actions” to shore up its balance sheet. Among those moves was a full reserve on all non-performing loans in its commercial real estate (CRE) holdings. Later that day, CEO Tom Capasse disclosed during an earnings call that the company had absorbed a massive $284 million in allowances—both CECL and valuation-based—as part of a broader restructuring effort.
The result? Shares of Ready Capital tumbled over 26% in a single day of intraday trading, intensifying concern among shareholders—particularly those who had inherited their positions through the Broadmark acquisition.
Broadmark Investors May Have a Claim
The legal team at Girard Sharp is now exploring whether Ready Capital adequately disclosed the risks in its loan portfolio before issuing shares to Broadmark investors. If certain risks were omitted or misrepresented, former Broadmark shareholders may have grounds to seek financial recovery.
If you were a Broadmark investor who received Ready Capital stock through the May 31, 2023 transaction, you are encouraged to contact the firm to discuss your legal rights and potential claims. Free consultations are available by emailing apolk@girardsharp.com or calling (866) 981-4800.
About Girard Sharp LLP
Girard Sharp is a powerhouse when is comes to securities and class action litigation. Known for championing the rights of investors and consumers, the firm has a strong track record of recovering millions for clients in high-stakes lawsuits involving fraud, antitrust violations, and corporate misconduct. They played a leading role in the $60 million spoofing litigation settlement with JPMorgan Chase and have been recognized by U.S. News and World Report and the National Law Journal for their elite trial capabilities.
If you believe you may have been impacted by Ready Capital’s recent actions, now’s the time to speak up. Reach out to Girard Sharp and get clarity on your options.
