BALA CYNWYD, Pa., Dec. 27, 2022 (GLOBE NEWSWIRE) -- Brodsky & Smith reminds investors of important approaching deadlines regarding class action lawsuits against the following companies for violations of federal securities laws. If you purchased any of the below-listed stocks during the referenced time periods and want to discuss your legal rights, please contact Jason Brodsky (jbrodsky@brodskysmith.com) or Marc Ackerman (mackerman@brodskysmith.com) at 855-576-4847. There is no cost or financial obligation to you.
Sunlight Financial Holdings Inc. (NYSE - SUNL)
If you purchased or otherwise acquired shares of Sunlight Financial between January 25, 2021 and September 28, 2022 (the “Class Period”), and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith who will, without obligation or cost to you, attempt to answer your questions. The deadline for filing is February 14, 2023.
According to the filed complaint, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (i) Sunlight Financial lacked effective underwriting and risk evaluation with respect to its contractor advance program; (ii) Sunlight Financial lacked the oversight and periodic monitoring systems necessary to timely detect bad debt associated with its contractor advance program; (iii) Sunlight Financial lacked effective internal controls over accounting and reporting of non-cash advance receivables; and (iv) as a result, Sunlight Financial would be forced to take a non-cash advance receivables impairment charge exceeding $30 million.
Additional information can be found at https://www.brodskysmith.com/cases/sunlight-financial-holdings-inc-nyse-sun/.
Bird Global, Inc. (NYSE – BRDS)
If you purchased or otherwise acquired shares of Bird Global between May 14, 2021 and November 14, 2022 (the “Class Period”), and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith who will, without obligation or cost to you, attempt to answer your questions. The deadline for filing is January 17, 2023.
According to the filed complaint, throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Bird was improperly recording Sharing Revenue for certain trips by its customers where collection was not probable; (2) as such, Bird overstated its Sharing Revenue for the relevant quarters and fiscal year during the Class Period; (3) Bird failed to disclose that its internal controls were not effective as they relate to calculating Sharing Revenue recognition; (4) as a result, Bird would need to restate its previously disclosed Sharing Revenue; and (5) as a result, Defendants’ public statements were materially false and misleading at all relevant times.
Additional information can be found at https://www.brodskysmith.com/cases/bird-global-inc-nyse-brds/.
Vintage Wine Estates, Inc. (Nasdaq – VWE, VWEWW)
If you purchased or otherwise acquired shares of Vintage Wine Estates between October 13, 2021 and September 13, 2022 (the “Class Period”), and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith who will, without obligation or cost to you, attempt to answer your questions. The deadline for filing is January 13, 2023.
According to the filed complaint, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) due to a material weakness related to its inventory controls and procedures, the Company lacked a reasonable basis to report inventory metrics; (2) the Company understated its overhead burden in certain quarters, thereby overstating its adjusted EBITDA; (3) as a result of the foregoing, Vintage Wine Estates was reasonably likely to incur significant charges to restate prior reporting; and (4) as a result, Defendants' statements about its business, operations, and prospects were materially false and misleading and/or lacked reasonable basis at all relevant times.
Additional information can be found at https://www.brodskysmith.com/cases/vintage-wine-estates-inc-nasdaq-vwe-vweww/.
Core Scientific, Inc. (Nasdaq – CORZ, CORZW)
If you purchased or otherwise acquired shares of Core Scientific between January 3, 2022 and October 26, 2022 (the “Class Period”), and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith who will, without obligation or cost to you, attempt to answer your questions. The deadline for filing is January 13, 2023.
The lawsuit alleges that defendants failed to disclose to investors: (1) that, due in part to the expiration of a favorable pricing agreement, the Company was experiencing increasing power costs; (2) that the Company’s largest customer, Gryphon, lacked the financial resources to purchase the necessary miner rigs for Core Scientific to host; (3) that the Company was not providing hosting services to Celsius as required by their contract; (4) that the Company had implemented an improper surcharge to pass through power costs to Celsius; (5) that, as a result of the foregoing alleged breaches of contract, the Company was reasonably likely to incur liability to defend itself against Celsius; (6) that, as a result of the foregoing, the Company’s profitability would be adversely impacted; and (7) that, therefore, there was likely substantial doubt as to the Company’s ability to continue as a going concern.
Additional information can be found at https://www.brodskysmith.com/cases/core-scientific-inc-nasdaq-corz-corzw/.
Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
