Sunlight Financial Holdings, Inc. f/k/a Spartan Acquisition Corp. II Class Action Lawsuit - SUNLQ
Case Summary
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The Sunlight Financial class action lawsuit seeks to represent purchasers or acquirers of Sunlight Financial Holdings, Inc. f/k/a Spartan Acquisition Corp. II (OTC: SUNLQ) securities between January 25, 2021 and October 31, 202, inclusive (the “Class Period”). Captioned Wax v. Cross River Bank, No. 24-cv-09510 (D.N.J.), the Sunlight Financial class action lawsuit charges Sunlight’s purported “Bank Partner,” Cross River Bank, with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the Sunlight Financial class action lawsuit, please provide your information in the form on this page. You can also contact attorney J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at info@rgrdlaw.com. Lead plaintiff motions for the Sunlight Financial class action lawsuit must be filed with the court no later than December 2, 2024.
CASE ALLEGATIONS: Sunlight Financial was at all relevant times a technology-enabled point-of-sale financing platform.
The Sunlight Financial class action lawsuit alleges that defendant engaged in a plan or scheme that, to the detriment of Sunlight Financial investors, enabled Sunlight Financial to originate and conceal from its investors a large pool of loans to unscrupulous solar panel installers of dubious credit quality, and a massive amount of funded but unsold mispriced solar loans that Cross River Bank warehoused “off balance sheet” – that is, loans for which Sunlight Financial retained full economic exposure until those loans were sold, but which were not reflected on Sunlight Financial’s balance sheet.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or otherwise acquired Sunlight Financial securities during the Class Period to seek appointment as lead plaintiff in the Sunlight Financial class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Sunlight Financial class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Sunlight Financial class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Sunlight Financial class action lawsuit.
ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world’s leading law firms representing investors in securities fraud cases. Our Firm has been #1 in the ISS Securities Class Action Services rankings for six out of the last ten years for securing the most monetary relief for investors. We recovered $6.6 billion for investors in securities-related class action cases – over $2.2 billion more than any other law firm in the last four years. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig.