INTRODUCTION TO THE SUNLIGHT FINANCIAL CLASS ACTION LAWSUIT
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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 September 28, 2022, 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 have suffered losses in Sunlight Financial stock and are interested in becoming the lead plaintiff in the Sunlight Financial class actionlawsuit or have any inquiries regarding your rights as a shareholder, please reach out to Sunlight Financial Stock Loss Lawyer Timothy L. Miles at no cost. You can contact him by calling 855/846-6529, sending an e-mail to [email protected], or filling out a contact form.
Lead plaintiff motions for the Sunlight Financial class action lawsuit must be filed with the court no later than December 2, 2024.
allegations in the Sunlight Financial class action lawsuit
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 DEADLINE IN THE Sunlight Financial class action lawsuit
Lead plaintiff motions for the Sunlight Financial class action lawsuit must be filed with the court no later than November 29, 2024. When a securities class action is filed such as the Sunlight Financial class actionlawsuit:
Anyone who wants to be lead plaintiff on behalf of the class must thereafter file a motion to be appointed as lead plaintiff(s) no later than 60 days after the notice was published.
You Have Two Choices If You Receive a Notice in the Sunlight Financial Class Action Lawsuit
First, read the notice very carefully. You have two choices.
First, you can do nothing and remain a member of the class represented by lead counsel.
Second, if you believe you have a large enough loss to justify it, you can opt out of the Sunlight Financial class actionlawsuit and file your own separate lawsuit.
Note, that if you opt-out, you will not be able to participate in any settlement or recovery obtained in the Sunlight Financial class actionlawsuit.
The Lead Plaintiff Process in the Sunlight Financial Class Action Lawsuit
If you suffered losses in Sunlight Financial stock, call today for a free case evaluation in the Sunlight Financial class action lawsuit
The Private Securities Litigation Reform Act of 1995 (PSLRA) permits any investor who purchased and suffered losses in Sunlight Financial stock to seek appointment as lead plaintiff in the Sunlight Financial class actionlawsuit.
A lead plaintiff acts on behalf of all other class members in directing the class action lawsuit.
An investor’s ability to share in any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff.
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.
Having a voice in decision-making processes regarding the settlement.
No financial risk, as lead counsel covers all costs and expenses and are paid only if they secure a settlement or judgment recovery for the class
Potentially enjoying long-term benefits from governance reform resulting from the litigation.
ELIGIBILITY CRITERIA FOR LEAD PLAINTIFF APPOINTMENT
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To be eligible for appointment as the lead plaintiff in the Sunlight Financial class action lawsuit, an investor must meet the following criteria:
Securities Acquisition: The investor must have purchased Sunlight Financial securities between January 25, 2021, and September 28, 2022, inclusive.
Financial Losses: The investor must have suffered financial losses as a direct result of the alleged securities fraud perpetrated by Sunlight Financial and its executives.
Typicality and Adequacy: The investor's legal claims must be typical of those asserted on behalf of the class, and they must demonstrate their ability to adequately represent the interests of the entire class through experience, resources, and the absence of conflicts of interest.
It is crucial to note that both domestic and international investors who meet these criteria are eligible to seek appointment as the lead plaintiff in the Sunlight Financial class action lawsuit, as courts have consistently recognized the rights of non-U.S. investors in securities class actions.
Legal Requirements for Prevailing in the Sunlight Financial Class Action Lawsuit
Instead, the attorney's fees and expenses are deducted from any settlement or judgment recovered on behalf of the class, typically as a court-approved percentage of the total recovery.
This arrangement ensures that investors can pursue their legal rights without bearing the financial burden of costly litigation, as the attorneys assume the risk and only receive compensation if they achieve a successful outcome for the class.
Resources for Investors in the Sunlight Financial Class Action Lawsuit and Others
Can I serve as a lead plaintiff in the class action against Sunlight Financial if I am serving as lead plaintiff in another securities fraud case?
No. Even if you suffered losses in Sunlight Financial stock, if you purchased securities outside of the Class period, you will not be able to participate in the Sunlight Financialclass action lawsuit.
Can I serve as a lead plaintiff in the class action against Sunlight Financial if I purchases shares outside of the class period?
No. Even if you suffered losses in Sunlight Financial stock, if you purchased securities outside of the Class period, you will not be able to participate in the Sunlight Financial class action lawsuit.
Can the court appoint more than one lead plaintiff in the Sunlight Financial lawsuit?
Yes, at its discretion the Court may appoint a person, entity, or group of persons and/or entities as Lead Plaintiffs in the Sunlight Financial class action lawsuit
CONTACT Sunlight Financial STOCK LOSS LAWYER TODAY TIMOTHY L. MILES TODAY ABOUT A Sunlight Financial CLASS ACTION LAWSUIT
If you suffered losses in Sunlight Financial stock, contact Sunlight Financial stock loss lawyer Timothy L. Miles today for a free case evaluation about a Sunlight Financial class action lawsuit. Call today and see what a Sunlight Financial stock loss lawyer could do for you if you suffered losses in Sunlight Financialstock. This will most likely be the only call you need to make. (855) 846–6529 or [email protected].
SUNLIGHT FINANCIALCLASS ACTION LAWSUIT SUNLIGHT FINANCIAL STOCK LOSS LAWYER TIMOTHY L. MILES 300 CENTERVIEW DR, UNIT 247 BRENTWOOD, TN 27027 855-846-6528
FREE CASE EVALUATION: CLASS ACTION AGAINST SUNLIGHT FINANCIAL If you suffered losses in Sunlight Financial stock, call Sunlight Financial stock loss lawyer Timothy L. Miles today for a free case evaluation about a Sunlight Financialclass action lawsuit. 855-846-6528