Bronstein, Gewirtz & Grossman, LLC Notifies Sunlight Financial Holdings Inc. f/k/a Spartan Acquisition Corp. II (SUNL) Investors of Class Action and to Actively Participate
NEW YORK--(BUSINESS WIRE)--Dec 23, 2022--
Attorney Advertising--Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Sunlight Financial Holdings Inc. f/k/a Spartan Acquisition Corp. II (“Sunlight” or the “Company”) (NYSE: SUNL) and certain of its officers, on behalf of all persons and entities that purchased, or otherwise acquired Sunlight securities between January 25, 2021 and September 28, 2022, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/sunl.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws.
The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the Company lacked effective underwriting and risk evaluation with respect to its contractor advance program; (2) that Sunlight lacked the oversight and periodic monitoring systems necessary to timely detect bad debt associated with its contractor advance program; (3) that the Company lacked effective internal controls over accounting and reporting of non-cash advance receivables; (4) that, 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, Defendants’ statements about its business, operations, and prospects were materially false and misleading and lacked a reasonable basis at all relevant times.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/sunl or you may contact Peretz Bronstein, Esq. or his Law Clerk and Client Relations Manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Sunlight 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.
Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits. The firm has recovered hundreds of millions of dollars for investors nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.
View source version on businesswire.com:https://www.businesswire.com/news/home/20221223005001/en/
CONTACT: Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: CLASS ACTION LAWSUIT PROFESSIONAL SERVICES LEGAL
SOURCE: Bronstein, Gewirtz & Grossman, LLC
Copyright Business Wire 2022.
PUB: 12/23/2022 11:00 AM/DISC: 12/23/2022 11:02 AM