We are investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Broadmark Realty Capital Inc. (“Broadmark” or the “Company”) (NYSE: BRMK) in connection with its proposed merger with Ready Capital Corporation (“Ready Capital”) (NYSE:RC). Under the terms of the merger agreement, each share of Broadmark common stock will be converted into 0.47233 shares of Ready Capital common stock, representing implied per-share consideration of $5.27 based on Ready Capital’s February 27, 2023 closing price of $11.16. Upon completion of the transaction, Ready Capital’s shareholders will own 64% of the combined company, while Broadmark shareholders will only own 36% of the combined company.
Weiss Law is investigating whether (i) Broadmark’s board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the merger consideration adequately compensates Broadmark shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed.
September 26, 2023
We are investigating possible breaches of fiduciary duty and violations of the federal securities laws by, among others, the Board of Directors and senior officers of Origin Materials, Inc. (NASDAQ: ORGN) (“Origin” or the “Company”), concerning the Company’s business, operations, and prospects surrounding the construction of the Origin 2 commercial plant.
September 14, 2023
Weiss Law announces that on September 13, 2023, they filed a class action lawsuit in the United States District Court for the Southern District of New York (“Court”), captioned Zappia v. Myovant Sciences Ltd. et al. Case 1:23-cv-08097, on behalf of a class (“Class”) of individuals and entities that held common stock of Myovant Sciences, Ltd. (“Myovant”) as of the close of business on January 20, 2023 (“Class Period”), asserting claims under Sections 14(a) and 20(a) of the Securities Exchange Act of 1934, and Securities and Exchange Commission Rule 14a-9, in connection with the acquisition of Myovant Sciences, Ltd. by Sumitovant Biopharma Ltd. for an unfair price.
September 11, 2023
We are investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Hostess Brands, Inc. (“Hostess” or the “Company”) (NASDAQ: TWNK), in connection with its acquisition by The J. M. Smucker Company (NYSE: SJM) (“Smucker”) via tender offer.