Recent Security Class Actions

Sunlight Financial Holdings Inc. Class A Common Stock (NYSE: SUNL)

Company Name:Sunlight Financial Holdings Inc. Class A Common Stock
Stock Symbol:NYSE: SUNL
Class Period Start:01/25/2021
Class Period End (inclusive):09/28/2022
Filing Deadline:02/14/2023

The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, the Complaint alleges 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/or lacked reasonable basis at all relevant times.