Bloomberg Law
Aug. 21, 2023, 5:05 PM

Sunlight Financial Leadership Hid Supply Chain Issues, Suit Says

Ben Miller
Ben Miller
Securities Litigation Correspondent

A shareholder of Sunlight Financial Holdings Inc. sued the company’s executives and directors, alleging that they misled investors about supply chain challenges and cash advances paid to contractors for more than a year.

Sunlight’s current and former leadership allegedly misrepresented the impact of supply chain issues on its business, its own due diligence processes in a 2021 SPAC merger, and the risk stemming from its contractor advance program, the shareholder said in a complaint filed in US District Court for the Western District of North Carolina.

Executives and directors at Sunlight allegedly misled investors to believe that the company benefited ...

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