Sunlight Financial Class Action Lawsuit: 8 FAQs by Investors

Sunlight Financial class action lawsuit: 8 FAQs by Investors

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, 2023, 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 losses in Sunlight Financial ​stock and wish to serve as lead plaintiff in the Sunlight Financial class action lawsuit, or just have general questions about your rights as a shareholder, please contact Sunlight Financial Stock Loss Lawyer Timothy L. Miles, at no charge, by calling 855/846-6529 or via e-mail at [email protected] or by submitting 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.

Read on for answers to eight frequently asked questions from investors about the Sunlight Financial class action lawsuit.

what are the THE 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.

when is 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 December e, 2024.​ When a securities class action is filed such as the Sunlight Financial ​class action lawsuit:

• The person who files the first complaint is required to publish a notice announcing the filing.
• 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. 

what is the THE LEAD PLAINTIFF PROCESS IN THE Sunlight Financial CLASS ACTION LAWSUIT?

The PSLRA permits any investor who purchased and suffered losses in ​​Sunlight Financial ​stock 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 class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the securities 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. 

what are the ELIGIBILITY CRITERIA FOR LEAD PLAINTIFF APPOINTMENT IN THE SUNLIGHT FINANCIAL CLASS ACTION LAWSUIT?

To be eligible for appointment as the lead plaintiff in the Sunlight Financial class action lawsuit, an investor must meet the following criteria:

1. Securities Acquisition: The investor must have purchased or acquired Sunlight Financial Holdings, Inc. f/k/a Spartan Acquisition Corp. II (OTC: SUNLQ) securities between January 25, 2021 and October 31, 2023.
2. 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.
3. 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.

what are The Benefits of Serving as a Lead Plaintiff in the SUNLIGHT FINANCIAL Class Action Lawsuit?

1. Negotiating more competitive attorney fees and reducing litigation costs.
2. Managing the litigation by overseeing the progress of the case and reviewing important filings.
3. Participating in mediation and settlement discussions.
4. Having a voice in decision-making processes regarding the settlement.
5. 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
6. Potentially enjoying long-term benefits from governance reform resulting from the litigation.

what are the THE RESPONSIBILITIES THE LEAD PLAINTIFF IN THE Super Micro CLASS ACTION LAWSUIT WILL HAVE IN THE SUNLIGHT FINANCIAL CLASS ACTION LAWSUIT?

1. ​​Selecting, monitoring, and overseeing Lead Counsel.
2. Reviewing and commenting on court filings on behalf of the class.
3. Discussing litigation strategies with the Lead Counsel.
4. Attending depositions (if necessary) and giving a deposition.
5. Attending hearings (if necessary).
6. Participating in mediation and the trial (if necessary).
7. Provide input on any decision concerning the settlement of the securities class action.

will the lead plaintiff do not get more money if SUNLIGHT FINANCIAL class action settles?

However, they may be entitled to recover their reasonable expenses incurred with are directly related to representing the class. Under the PSLAR, a Lead Plaintiff is only entitled to his or her pro rata share of any recovery and does not receive any additional money for serving as a representative party on behalf of the class.  However, a court, in its discretion, may approve an award of “reasonable costs and expenses (including lost wages)” to a Lead Plaintiff that directly relates to the representation of the class.  A court, in its discretion, may approve an award of “reasonable costs and expenses (including lost wages)” to a Lead Plaintiff that directly relates to the representation of the class in the Sunlight Financial class action lawsuit on behalf of investors who suffered losses in Sunlight Financial​​ stock. ​ 

what are the LEGAL REQUIREMENTS FOR PREVAILING IN THE SUNLIGHT FINANCIAL CLASS ACTION LAWSUIT?

To succeed in the Sunlight Financial class action lawsuit, plaintiffs must establish the following elements:

1. The defendant made a material misrepresentation or omission.
2. The defendant acted with scienter, indicating a wrongful state of mind.
3. The misrepresentation or omission was made in connection with the purchase or sale of a security.
4. The plaintiff relied on the misrepresentation or omission.
5. The plaintiff suffered an economic loss as a result of the fraud.
6. The plaintiff can demonstrate loss causation, proving that the fraudulent misrepresentation or omission caused the economic loss.

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 Financial ​stock. ​This will most likely be the only call you need to make. (855) 846–6529 or [email protected]. ​​

The Law Offices of Timothy L. Miles
Tapestry at Brentwood Town Center
​300 Centerview Dr., #247
Brentwood, TN 37027
Phone: (855) 846–6529
​​Email: [email protected]

Takata airbag lawyer Timothy L. Miles  

Timothy L. Miles is a top-rated and AV preeminent lawyer in Nashville, Tennessee and a nationally known class action and products liability lawyer who has been leading the fight to protect consumer rights for over 22 years. Mr. Miles received a Bachelor of Science in Psychology from Belmont University in Nashville, Tennessee in 1995 and his J.D. from the Nashville School of Law in May 2001, graduating third in his class, and was made a member of the Honorable Society of Cooper’s Inn which is reserved for students graduating in the top ten percent of their class.

He is admitted to practice before the Tennessee Supreme Court; the United States District Court for the Western, Middle and Eastern Districts of Tennessee and the District of Colorado; and the Sixth Circuit Court of Appeals.  He is a member of the Nashville Bar Association; National Trial Lawyers Association; and Harry Phillips American Inns of Court (Student Member 2000). Mr. Miles has dedicated his career to representing consumers and shareholders in complex class-action litigation, products liability and mass torts.

Whether serving as lead, co-lead, or liaison counsel, Mr. Miles has helped recover millions of dollars for aggrieved consumers, shaped precedent-setting decisions, and delivered real corporate governance reforms. Judges and peers have repeatedly recognized Mr. Miles’ relentless advocacy for the underdog, as well as his unbendable ethical standards.
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For example, Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association, which is by invitation only and is “extended to those attorneys who exemplify superior qualifications, trial results, and leadership in their respective state based upon objective and uniformly applied criteria.” The National Trial Lawyers Association explained the significance of this honor: “With the selection of Timothy L. Miles by The National Trial Lawyers: Top 100, [Mr.] Miles has shown that he exemplifies superior qualifications, leadership skills, and trial results as a trial lawyer. The selection process for this elite honor is based on a multi-phase process which includes peer nominations combined with third party research.” Further, “[m]embership is extended only to the select few of the most qualified attorneys from each state or region who demonstrate superior qualifications of leadership, reputation, influence, stature and public profile measured by objective and uniformly applied standards in compliance with state bar and national Rule 4-7.”
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Additionally, Mr. Miles has maintained an AV Preeminent Rating in securities law with Martindale-Hubble since 2014, their highest award given. The coveted AV Preeminent rating is reserved for “[a]n elite group of approximately 10 percent of all attorneys.”  Additionally, while Martindale’s peer review ratings have been trusted for decades because they are based on the opinions and feedback of fellow legal practitioners, the organization’s special judicial edition rating, which Mr. Miles received this year for the sixth year in a row, is an even higher honor. As Martindale notes, the prestigious judicial rating is its highest possible distinction, and is representative of the opinions of both a lawyer’s peers and members of the judiciary.

CONTACT                                                      
The Law Offices of Timothy L. Miles
Tapestry at Brentwood Town Center
​300 Centerview Dr., #247
Brentwood, TN 37027
​​Phone:(855) 846-6529
​Email: [email protected]
​Websites:
www.classactionlawyertn.com
​www.dangerousdrugslawyertn.com
www.stocklosslawyertn.com
www.masstortsheadquarters.com