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EQUITY ALERT: Rosen Law Firm Encourages Sunlight Financial Holdings Inc. f/k/a Spartan Acquisition Corp. II Investors to Secure Counsel Before Important Deadline in Securities Class Action – SUNL, SPRQ

PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.
December 20, 2022 GMT

NEW YORK--(BUSINESS WIRE)--Dec 20, 2022--

WHY: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of Sunlight Financial Holdings Inc. f/k/a Spartan Acquisition Corp. II (NYSE: SUNL, SPRQ) between January 25, 2021 and September 28, 2022, both dates inclusive (the “Class Period”). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than February 14, 2023.

SO WHAT: If you purchased Sunlight securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Sunlight class action, go to https://rosenlegal.com/submit-form/?case_id=10554 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than February 14, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

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WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

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DETAILS OF THE CASE: According to the lawsuit, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose 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, defendants’ statements about its business, operations, and prospects were materially false and misleading and/or lacked reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

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To join the Sunlight class action, go to https://rosenlegal.com/submit-form/?case_id=10554 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

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View source version on businesswire.com:https://www.businesswire.com/news/home/20221220005554/en/

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CONTACT: Laurence Rosen, Esq.

Phillip Kim, Esq.

The Rosen Law Firm, P.A.

275 Madison Avenue, 40th Floor

New York, NY 10016

Tel: (212) 686-1060

Toll Free: (866) 767-3653

Fax: (212) 202-3827

lrosen@rosenlegal.com

pkim@rosenlegal.com

cases@rosenlegal.com

www.rosenlegal.com

KEYWORD: UNITED STATES NORTH AMERICA NEW YORK

INDUSTRY KEYWORD: CLASS ACTION LAWSUIT PROFESSIONAL SERVICES LEGAL

SOURCE: The Rosen Law Firm, P.A.

Copyright Business Wire 2022.

PUB: 12/20/2022 10:35 AM/DISC: 12/20/2022 10:36 AM

http://www.businesswire.com/news/home/20221220005554/en