Atlanta, Georgia--(Newsfile Corp. - February 6, 2023) - Holzer & Holzer, LLC reminds investors that a class action lawsuit was filed against Sunlight Financial Holdings Inc. ("Sunlight Financial" or the "Company") f/k/a Spartan Acquisition Corp. II (NYSE: SUNL). The lawsuit alleges Sunlight Financial made materially false and misleading statements and/or failed to disclose material adverse facts about the Company's business, operations, and prospects, including: (1) that the Company lacked effective underwriting and risk evaluation with respect to its contractor advance program; (2) that Sunlight Financial 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.
If you bought shares of Sunlight Financial between January 25, 2021 and September 28, 2022, and you suffered a significant loss on that investment, you are encouraged to discuss your legal rights by contacting Marshall Dees, Esq. at mdees@holzerlaw.com or Joshua Karr, Esq. at jkarr@holzerlaw.com, by toll-free telephone at (888) 508-6832 or you may visit the firm's website at https://holzerlaw.com/case/sunlight-financial/ to learn more.
The deadline to ask the court to be appointed lead plaintiff in the case is February 14, 2023.
Holzer & Holzer, LLC, an ISS top rated securities litigation law firm for 2021, dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. Since its founding in 2000, Holzer & Holzer attorneys have played critical roles in recovering hundreds of millions of dollars for shareholders victimized by fraud and other corporate misconduct. More information about the firm is available through its website, www.holzerlaw.com, and upon request from the firm. Holzer & Holzer, LLC has paid for the dissemination of this promotional communication, and Corey Holzer is the attorney responsible for its content.
CONTACT:
Marshall Dees, Esq.
(888) 508-6832 (toll-free)
mdees@holzerlaw.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/153808
