Los Angeles, California–(Newsfile Corp. – December 17, 2022) – The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Sunlight Financial Holdings Inc. (“Sunlight” or “the Company”) (NYSE: SUNL) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company’s securities between January 25, 2021 and September 28, 2022, inclusive (the ”Class Period”), are encouraged to contact the firm before February 14, 2023.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at bschall@schallfirm.com.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Sunlight failed to maintain proper underwriting and risk evaluation in its contractor advance program. The Company failed to build the oversight systems necessary to detect bad debt within the program. The Company failed to maintain effective controls over accounting and related areas. The Company subsequently was forced to take a non-cash advance receivables impairment charge of more than $30 million. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Sunlight, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT:
The Schall Law Firm
Brian Schall, Esq.,
www.schallfirm.com
Office: 310-301-3335
info@schallfirm.com
SOURCE:
The Schall Law Firm
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/148533
