An investigation on behalf of current long term investors in Sunlight Financial Holdings Inc. (NYSE: SUNL) shares over possible breaches of fiduciary duty by certain officers and directors was announced and NYSE: SUNL stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 03/20/2023 -- An investigation was announced for current long-term investors in shares of Sunlight Financial Holdings Inc. (NYSE: SUNL) concerning potential breaches of fiduciary duties by certain directors of Sunlight Financial Holdings Inc.
Investors who are current long term investors in Sunlight Financial Holdings Inc. (NYSE: SUNL) shares, have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm for current long term investors in NYSE: SUNL stocks follows a lawsuit filed against Sunlight Financial Holdings Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE: SUNL stocks, concerns whether certain Sunlight Financial Holdings Inc. directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the Southern District of New York the plaintiff alleges that, the defendants made 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, defendants' statements about its business, operations, and prospects were materially false and misleading and/or lacked reasonable basis at all relevant times.
Those who purchased shares of Sunlight Financial Holdings Inc. (NYSE: SUNL) have certain options and should contact the Shareholders Foundation.
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The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.