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SUNL LAWSUIT ALERT: Levi & Korsinsky Notifies Sunlight Financial Holdings Inc. f/k/a Spartan Acquisition Corp. II Investors of a Class Action Lawsuit and Upcoming Deadline
News provided byLevi & Korsinsky, LLP
Jan 26, 2023, 5:45 AM ET
NEW YORK, Jan. 26, 2023 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Sunlight Financial Holdings Inc. f/k/a Spartan Acquisition Corp. II ("Sunlight" or the "Company") (NYSE: SUNL) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Sunlight investors who were adversely affected by alleged securities fraud between January 25, 2021 and September 28, 2022. Follow the link below to get more information and be contacted by a member of our team:
SUNL investors may also contact Joseph E. Levi, Esq. via email at email@example.com or by telephone at (212) 363-7500.
CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (1) the Company lacked effective underwriting and risk evaluation with respect to its contractor advance program; (2) Sunlight lacked the oversight and periodic monitoring systems necessary to timely detect bad debt associated with its contractor advance program; (3) the Company lacked effective internal controls over accounting and reporting of non-cash advance receivables; (4) as a result, the Company would be forced to take a non-cash advance receivables impairment charge exceeding $30 million; and (5) as a result of the foregoing, defendant's positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
WHAT'S NEXT? If you suffered a loss in Sunlight during the relevant time frame, you have until February 14, 2023 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
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SOURCE Levi & Korsinsky, LLP