Pandemic Darlings The pandemic economy, in original documents
Home Court filings Wax v. Cross River Bank

Case docket

Wax v. Cross River Bank — U.S. District Court, District of New Jersey

Wax v. Cross River Bank — U.S. District Court, District of New Jersey — 21 documents in the archive, dated September 27, 2024 to July 25, 2025.

Case facts

CourtU.S. District Court for the District of New Jersey
Docket numberNo. 2:24-cv-09510 — main docket · CourtListener docket 555169
Filings21 public filings
Filed2024-09-27 – 2025-07-25
Document typesexhibits (11), responses or replies (3), complaint (1), order (1), memorandum or brief (1), declaration (1)
Original PDFs21 of 21
ProfilesCross River Bank

Case summary

Wax v. Cross River Bank, No. 2:24-cv-09510 in the U.S. District Court for the District of New Jersey, is a securities fraud class action filed September 27, 2024 by Mitchell Wax on behalf of all persons who purchased securities of Sunlight Financial Holdings, Inc., formerly Spartan Acquisition Corp. II, between January 25, 2021 and October 31, 2023. The complaint pleads one count against Cross River Bank, which it describes as Sunlight's purported "Bank Partner", under Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5(a) and (c). On January 8, 2025 the court appointed Wax lead plaintiff under the Private Securities Litigation Reform Act. Cross River Bank moved to dismiss for failure to state a claim on April 9, 2025, and the briefing on this page ends July 25, 2025. No ruling on that motion is on this page.

Case at a glance

PartiesPlaintiff Mitchell Wax, individually and on behalf of all others similarly situated; defendant Cross River Bank. Sunlight Financial Holdings, Inc., formerly Spartan Acquisition Corp. II, is the issuer whose securities are at issue and is not a defendant here
Court and docketU.S. District Court for the District of New Jersey, No. 2:24-cv-09510; the caption appears as both BRM-JRA and ES-JRA across the filings
ProgramNot named in the filings on this page. The claims concern solar loans originated with Cross River Bank, not a pandemic relief program
ClaimsCount I, violation of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5(a) and (c), brought solely under Rule 10b-5(a) and (c)
Disposition or statusPending. Lead plaintiff appointed January 8, 2025; motion to dismiss briefed April 9 to July 25, 2025 with no decision among the filings on this page
Status checked2026-09-23 · against DOJ press releases through 2026-09-22; court docket not yet read

What does the complaint allege?

That Cross River Bank engaged in a plan or scheme that enabled Sunlight to originate and conceal from its investors a pool of loans to solar panel installers and a quantity of funded but unsold solar loans that the bank warehoused off balance sheet, for which Sunlight retained full economic exposure until the loans were sold. These are the complaint's allegations.

Which relief program is involved?

None is named in the filings on this page. The exhibits to the motion to dismiss are Sunlight securities filings, a loan program agreement, a loan and security agreement, Sunlight's bankruptcy confirmation order, and filings from the Millunchick securities action and its settlement.

What is the status?

The case is pending as of July 25, 2025; the charges are allegations.

Docket

21 documents in docket-entry order; attachments follow their entry. Gaps name the entries we do not have.

No. 2:24-cv-09510

  1. Class Action Complaint — Wax v. Cross River Bank (D.N.J.)Entry 1
  2. —Entries 2–13 are not in the archive
  3. Response in Support of Lead Plaintiff Motion — Wax v. Cross River Bank (D.N.J.)Entry 14
  4. Defendant’s Limited Response to Lead Plaintiff Motion — Wax v. Cross River (D.N.J.)Entry 15
  5. Order Appointing Lead Plaintiff and Lead Counsel — Wax v. Cross River (D.N.J.)Entry 16
  6. —Entries 17–19 are not in the archive
  7. Pre-Motion Conference Letter — Wax v. Cross River BankEntry 20
  8. —Entry 21 is not in the archive
  9. —Entry 22: main document not in the archive
  10. Exhibit A: Millunchick Fairness Hearing Transcript — Wax v. Cross River (D.N.J.)Entry 22, attachment 1
  11. —Entries 23–38 are not in the archive
  12. Notice of Motion to Dismiss — Wax v. Cross River BankEntry 39
  13. Brief in Support of Motion to Dismiss — Wax v. Cross River BankEntry 39, attachment 1
  14. Declaration of Steven M. Rosato — Wax v. Cross River BankEntry 39, attachment 2
  15. Exhibit 1: Sunlight 10-Q/A (Q3 2021) — Wax v. Cross RiverEntry 39, attachment 3
  16. Exhibit 2: Sunlight 8-K September 2022 — Wax v. Cross RiverEntry 39, attachment 4
  17. Exhibit 3: Sunlight 8-K December 2022 — Wax v. Cross RiverEntry 39, attachment 5
  18. Exhibit 4: Sunlight Bankruptcy Confirmation Order — Wax v. Cross River (D.N.J.)Entry 39, attachment 6
  19. Exhibit 5: CRB–Sunlight Loan Program Agreement — Wax v. Cross River (D.N.J.)Entry 39, attachment 7
  20. Exhibit 6: CRB–Sunlight Loan and Security Agreement — Wax v. Cross River (D.N.J.)Entry 39, attachment 8
  21. Exhibit 7: Millunchick v. Sunlight Second Amended Complaint — Wax v. Cross River (D.N.J.)Entry 39, attachment 9
  22. Exhibit 8: Millunchick v. Sunlight Settlement Stipulation — Wax v. Cross River (D.N.J.)Entry 39, attachment 10
  23. Exhibit 9: Sunlight Response to Wax's Settlement Objection — Wax v. Cross River (D.N.J.)Entry 39, attachment 11
  24. Plaintiff's Opposition to Motion to Dismiss — Wax v. Cross River Bank (D.N.J.)Entry 40
  25. Exhibit: Millunchick Settlement Notice — Wax v. Cross RiverEntry 40, attachment 2
  26. Reply Brief in Support of Motion to Dismiss — Wax v. Cross River Bank (D.N.J.)Entry 41

More documents from this case’s dockets

2 more documents linked to this case’s dockets are in the archive and not in the docket above.

  1. Order — Wax v. Cross River Bank (Dkt. 42)Source documentOrder in Case 2:24-cv-09510-ES-JRA granting Cross River Bank's motion to dismiss without prejudice, with leave to file a second amended complaint.
  2. Opinion — Wax v. Cross River Bank (Dkt. 43)Source documentOpinion in Case 2:24-cv-09510-ES-JRA granting Cross River Bank's motion to dismiss Mitchell Wax's securities complaint without prejudice.

Other cases in the archive from U.S. District Court for the District of New Jersey.

Court, dates and docket numbers are as recorded on the filings.

Back to top