Levi & Korsinsky, LLP announces that a SUNL class action lawsuit has been filed on behalf of investors who purchased Sunlight Financial Holdings Inc. f/k/a Spartan Acquisition Corp. II (SUNL) securities between January 25, 2021 and September 28, 2022. For more on the SUNL Lawsuit please contact us today.
According to the Sunlight Financial Holdings Inc. f/k/a Spartan Acquisition Corp. II 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 of the foregoing, defendant’s positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
If you suffered a loss in Sunlight Financial Holdings Inc. f/k/a Spartan Acquisition Corp. II 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.