CLASS ACTION UPDATE for IREN, SUNL and EYE: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders

ACCESSWIRE 8-Feb-2023 1:21 PM

NEW YORK, NY / ACCESSWIRE / February 8, 2023 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court. Further details about the cases can be found at the links provided. There is no cost or obligation to you.

IREN Shareholders Click Here: https://www.zlk.com/pslra-1/iris-energy-class-action-submission-form?prid=36371&wire=1
SUNL Shareholders Click Here: https://www.zlk.com/pslra-1/sunlight-financial-lawsuit-submission-form?prid=36371&wire=1
EYE Shareholders Click Here: https://www.zlk.com/pslra-1/national-vision-class-action-submission-form?prid=36371&wire=1

* ADDITIONAL INFORMATION BELOW *

Iris Energy Limited (NASDAQ:IREN)

This lawsuit is on behalf of a class consisting of all persons and entities other than defendants that purchased or otherwise acquired: (a) Iris ordinary shares pursuant and/or traceable to the documents issued in connection with the Company's initial public offering conducted on or about November 17, 2021; and/or (b) Iris securities between November 17, 2021 and November 1, 2022, both dates inclusive.
Lead Plaintiff Deadline : February 13, 2023
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/iris-energy-class-action-submission-form?prid=36371&wire=1

According to the filed complaint, (i) certain of Iris's Bitcoin miners, owned through its wholly-owned special purpose vehicles, were unlikely to produce sufficient cash flow to service their respective debt financing obligations; (ii) accordingly, Iris's use of equipment financing agreements to procure Bitcoin miners was not as sustainable as defendants had represented; (iii) the foregoing was likely to have a material negative impact on the Company's business, operations, and financial condition; and (iv) as a result, documents issues in connection with the Company's initial public offering and defendants' public statements throughout the class period were materially false and/or misleading and failed to state information required to be stated therein.

Sunlight Financial Holdings Inc. f/k/a Spartan Acquisition Corp. II (NYSE:SUNL)

SUNL Lawsuit on behalf of: investors who purchased January 25, 2021 - September 28, 2022
Lead Plaintiff Deadline : February 14, 2023
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/sunlight-financial-lawsuit-submission-form?prid=36371&wire=1

According to the filed complaint, during the class period, Sunlight Financial Holdings Inc. f/k/a Spartan Acquisition Corp. II made materially false and/or misleading statements and/or failed to disclose that: (1) the Company lacked effective underwriting and risk evaluation with respect to its contractor advance program; (2) Sunlight lacked the oversight and periodic monitoring systems necessary to timely detect bad debt associated with its contractor advance program; (3) the Company lacked effective internal controls over accounting and reporting of non-cash advance receivables; (4) as a result, the Company would be forced to take a non-cash advance receivables impairment charge exceeding $30 million; and (5) as a result of the foregoing, defendant's positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

National Vision Holdings, Inc. (NASDAQ:EYE)

This lawsuit is on behalf of all persons who purchased shares of National Vision common stock between May 13, 2021, and May 9, 2022, both dates inclusive.
Lead Plaintiff Deadline : March 28, 2023
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/national-vision-class-action-submission-form?prid=36371&wire=1

According to the filed complaint, (a) National Vision was experiencing extraordinary wage and labor pressures as a result of intense competition and disruptions in the labor market due to the COVID-19 pandemic; (b) National Vision had made a significant multi-million dollar investment in wage and compensation payments to its vision care professionals in order to prevent mass defections in the middle of 2021; (c) the enhanced payouts were expected to negatively impact the Company's fourth quarter 2021 costs and profit margins to an extent materially greater than what had been disclosed to investors; (d) as a result of (a)-(c) above, the Company's profitability metrics were expected to deteriorate below not only favorable 2020 results, but also pre-pandemic levels; e) the Company's recruitment and retention efforts had not been successful and there was a substantial undisclosed risk that National Vision would experience staff and optometrist shortages and capacity constraints.

You have until the lead plaintiff deadlines to request that the court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Levi & Korsinsky is a nationally recognized firm with offices in New York, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Eduard Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com

SOURCE: Levi & Korsinsky, LLP