NEW YORK, Jan. 18, 2023 (GLOBE NEWSWIRE) — Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of Sunlight Financial Holdings Inc. (“Sunlight” or the “Company”) SUNL. A complaint has been filed on behalf of investors who bought or otherwise acquired Sunlight Securities between 25 January 2021 and 28 September 2022 inclusive (the “Collection Period”). Click here to participate in the survey.

If you purchased Sunlight securities during the Class Period and would like to discuss this case or our investigation, please contact us via email pmayer@kaplanfox.com or by calling (646) 315-9003 or our toll-free number 1 (800) 290-1952.

If you are a member of the proposed class, you can move the court by February 14, 2023 at the latest to serve as lead plaintiff for the alleged class. If you have losses, we encourage you to contact us to learn more about the Lead Plaintiff Proceedings. You do not have to seek lead plaintiff to participate in a possible recovery.

On September 28, 2022, after the market closed, Sunlight announced that it would record a “non-cash impairment of accounts receivable of $30 million to $33 million during the Company’s fiscal quarter ended September 30, 2022.” The company stated that “the company has been informed of certain actions taken by one of its installer partners to address the installer’s liquidity issues” that “would likely result in the company being unable to collect the outstanding advance payments to that installer.”

On the same day, the company also issued a press release withdrawing its full-year 2022 outlook due to the “installer liquidity event.” The company’s CEO was also quoted as saying: “[w]Although our risk is much lower with advances from other contractors (next three advances from partners are 10M, 7M and 10M, respectively).

Following this news, Sunlight…