Settlement Announced for Sunlight Financial and Spartan Stocks
Introduction to the Proposed Settlement
In an important development for investors, the Rosen Law Firm, P.A. has revealed a proposed class action settlement aimed at individuals who purchased shares of Sunlight Financial Holdings, Inc. and those who held common stock in Spartan Acquisition Corp. II. This proposed settlement has been greenlit by the United States District Court for the Southern District of New York, providing an opportunity for shareholders to assert their rights.
Who is Affected?
The settlement is applicable to all persons who purchased the publicly traded common stock of Sunlight Financial Holdings, Inc. between specific dates, as well as those who owned Spartan Acquisition Corp. II shares as of a certain date. If you find yourself in either category, you may have a claim and should be aware of the implications surrounding this settlement.
Details of the Settlement Hearing
A hearing is scheduled to take place at a later date where various aspects of the settlement will be discussed. Key points of the discussion will include whether the proposed settlement amount, which totals $3.5 million, is fair, reasonable, and adequate for the claimants involved. The court will also examine the proposed plan to allocate these settlement proceeds among eligible shareholders, ensuring that all parties receive their fair share.
What to Expect at the Hearing
During the hearing, the court will evaluate the attorney's fee request, which could be up to 29% of the settlement amount. It is also essential for shareholders to know that they could have an opportunity to voice their opinions regarding the settlement terms. Whether you wish to express approval, disapproval, or propose changes to the allocation plan, it is crucial to participate in the process.
Claim Submission Information
If you are determined to benefit from the settlement, you are required to submit a Proof of Claim form. This documentation must be completed and submitted to the Claims Administrator by a specified deadline. Failing to do so could forfeit your right to recover any funds from this settlement.
Exclusion Requests
If you wish to exclude yourself from the settlement class, timeliness is critical. The request for exclusion must be submitted to the Claims Administrator by the designated deadline, as outlined in the notices. Excluding oneself means you will not be bound by any judgments regarding the settlement but will also lose your right to any compensation stemming from the settlement.
Objection Process
Contact Information for Further Queries
If you have questions about the proposed settlement or the process to engage in it, reaching out to the Lead Counsel is advisable. They are equipped to provide the necessary details and help ensure that your rights and interests are safeguarded during this process.
Conclusion and Next Steps
In conclusion, as we navigate this proposed settlement for Sunlight Financial Holdings, Inc. and Spartan Acquisition Corp. II, keep an eye on important deadlines, and don’t hesitate to reach out for assistance. By being proactive, you can maximize your engagements in this settlement and ensure that your stakes as a shareholder are preserved.
Frequently Asked Questions
What is the purpose of the proposed settlement?
The proposed settlement aims to provide financial restitution to shareholders affected by the actions of Sunlight Financial Holdings, Inc. and Spartan Acquisition Corp. II.
Who should file a Proof of Claim?
Individuals who purchased shares during the specified class period or held shares as of the notable date should file a Proof of Claim to secure potential compensation.
How much is the settlement amount?
The total settlement amount proposed is $3.5 million, which will be distributed among eligible claimants.
What are the implications of requesting exclusion?
Excluding yourself from the settlement means relinquishing rights to any potential compensation, but also freedom from any judgment made regarding the settlement.
How can I contact Lead Counsel for more information?
You can reach out to the Lead Counsel directly through phone or email for any questions regarding the settlement process.
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