The Law Offices of Frank R. Cruz Announces Investigation of Sunlight Financial Holdings Inc. (SUNL) on Behalf of Investors
LOS ANGELES--(BUSINESS WIRE)--Dec 19, 2022--
The Law Offices of Frank R. Cruz announces an investigation of Sunlight Financial Holdings Inc. (“Sunlight” or the “Company”) (NYSE: SUNL ) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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On September 28, 2022, after the market closed, Sunlight disclosed that it would record a “non-cash advance receivables impairment charge of $30 million to $33 million during the Company’s fiscal quarter ending September 30, 2022.” The Company explained that “the Company was informed of certain actions taken by one of its installer partners to address liquidity issues faced by the installer” which “would likely result in an inability of the Company to collect on advances outstanding to such installer.”
On this news, the Company’s stock price fell $1.44 per share, or 57.1%, to close at $1.08 per share on September 29, 2022, thereby injuring investors.
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If you purchased Sunlight securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to email@example.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
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CONTACT: The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: CLASS ACTION LAWSUIT PROFESSIONAL SERVICES LEGAL
SOURCE: The Law Offices of Frank R. Cruz
Copyright Business Wire 2022.
PUB: 12/19/2022 04:15 PM/DISC: 12/19/2022 04:16 PM