NEW YORK, Feb. 04, 2023 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Sunlight Financial Holdings Inc. (“Sunlight” or the “Company”) (NYSE: SUNL). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 7980.
The investigation concerns whether Sunlight and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On September 28, 2022, Sunlight issued a press release “announc[ing] that an installer liquidity event and volatile interest rates will impact its full-year 2022 financial performance” and that “[a]s a result, the Company is withdrawing its previously-provided full-year 2022 outlook metrics.” Sunlight stated that “[o]ne of Sunlight's largest solar installers has notified the Company that due to cash flow challenges, the installer is in the process of winding down its operations, likely restricting its ability to fully meet its financial obligations. As a result, Sunlight expects to impair $30 to $33 million in advances to that installer on the Company’s balance sheet as of September 30, 2022.”
On this news, Sunlight’s stock price fell $1.44 per share, or 57.14%, to close at $1.08 per share on September 29, 2022.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com
Robert S. Willoughby
888-476-6529 ext. 7980