NEW
YORK, Feb. 3, 2023 /PRNewswire/ -- Jakubowitz
Law announces that a securities fraud class action lawsuit has
commenced on behalf of shareholders of Sunlight Financial Holdings
Inc. f/k/a Spartan Acquisition Corp. II (NYSE: SUNL).
To receive updates on the lawsuit, fill out the
form:
https://claimyourloss.com/securities/sunlight-financial-holdings-inc-f-k-a-spartan-acquisition-corp-ii-loss-submission-form/?id=36167&from=4
The lawsuit seeks to recover losses for shareholders who
purchased Sunlight between January 25,
2021 and September 28, 2022.
Shareholders interested in acting as a lead plaintiff
representing the class of wronged shareholders have until
February 14, 2023 to petition
the court. Your ability to share in any recovery doesn't require
that you serve as a lead plaintiff.
According to a filed complaint, Sunlight Financial Holdings Inc.
f/k/a Spartan Acquisition Corp. II issued materially 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.
Jakubowitz Law is vigorous in pursuit of justice for
shareholders who have been the victim of securities fraud. Attorney
advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
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SOURCE Jakubowitz Law
