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 ...