Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, Feb. 09, 2023 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Sunlight Financial Holdings Inc. f/k/a Spartan Acquisition Corp. II (“Sunlight” or “the Company”) (NYSE: SUNL) investors that a lawsuit filed on behalf of investors that purchased Singularity securities (NYSE: SUNL) between January 25, 2021 to September 28, 2022, both dates inclusive (the "Class Period").
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
The complaint claims that Sunlight Financial Holdings Inc. (formerly known as Spartan Acquisition Corp. II) made false and/or misleading statements, and/or failed to disclose that: (1) the company did not have proper underwriting and risk assessment procedures for its contractor advance program; (2) the company did not have sufficient oversight and monitoring systems to detect bad debt related to the contractor advance program in a timely manner; (3) the company did not have effective internal controls for accounting and reporting of non-cash advance receivables; (4) as a result, the company would need to take a non-cash advance receivables impairment charge of over $30 million; and (5) due to these issues, the company's statements about its business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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