Case docket
Wax v. Cross River Bank — U.S. District Court, District of New Jersey
Wax v. Cross River Bank — 21 court filings in the archive from U.S. District Court for the District of New Jersey, filed between September 27, 2024 and July 25, 2025. Among them: 11 exhibits, 3 responses or replies and 1 complaint.
Case facts
| Court | U.S. District Court for the District of New Jersey |
|---|---|
| Filings | 21 public filings |
| Filed | 2024-09-27 – 2025-07-25 |
| Document types | exhibits (11), responses or replies (3), complaint (1), order (1), memorandum or brief (1), declaration (1) |
| Original PDFs | 21 of 21 |
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
| Parties | Plaintiff 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 docket | U.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 |
| Program | Not named in the filings on this page. The claims concern solar loans originated with Cross River Bank, not a pandemic relief program |
| Claims | Count 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 status | Pending. 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 checked | 2026-09-23 · 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.
Summary written from the documents on this page; every sentence is sourced.
Filings
21 public filings from this case, in filing-date order.
- Class Action Complaint — Wax v. Cross River Bank (D.N.J.)Complaint · PDF
- Defendant’s Limited Response to Lead Plaintiff MotionPDF
- Response in Support of Lead Plaintiff MotionResponse or reply · PDF
- Order Appointing Lead Plaintiff and Lead CounselOrder · PDF
- Pre-Motion Conference Letter — Wax v. Cross River BankPDF
- Brief in Support of Motion to Dismiss — Wax v. Cross River BankMemorandum or brief · PDF
- Reply Brief in Support of Motion to DismissResponse or reply · PDF
- Declaration of Steven M. Rosato — Wax v. Cross River BankDeclaration · PDF
- Exhibit 1: Sunlight 10-Q/A (Q3 2021)Exhibit · PDF
- Exhibit 2: Sunlight 8-K September 2022Exhibit · PDF
- Exhibit 3: Sunlight 8-K December 2022Exhibit · PDF
- Exhibit 4: Sunlight Bankruptcy Confirmation OrderExhibit · PDF
- Exhibit 5: CRB–Sunlight Loan Program AgreementExhibit · PDF
- Exhibit 6: CRB–Sunlight Loan and Security AgreementExhibit · PDF
- Exhibit 7: Millunchick v. Sunlight Second Amended Complaint — Wax v. Cross River (D.N.J.)Exhibit · PDF
- Exhibit 8: Millunchick v. Sunlight Settlement StipulationExhibit · PDF
- Exhibit 9: Sunlight Response to Wax's Settlement Objection — Wax v. Cross River (D.N.J.)Exhibit · PDF
- Exhibit A: Millunchick Fairness Hearing TranscriptExhibit · PDF
- Exhibit: Millunchick Settlement NoticeExhibit · PDF
- Notice of Motion to Dismiss — Wax v. Cross River BankNotice · PDF
- Plaintiff's Opposition to Motion to DismissResponse or reply · PDF
Court, dates and docket numbers are as recorded on the filings.