The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Butterfly Network, Inc. f/k/a Longview Acquisition Corp. (NYSE: BFLY) who: (a) purchased Butterfly securities between February 16, 2021 and November 15, 2021, both dates inclusive and/or (b) held Butterfly common stock as of the record date for the special meeting of shareholders held on February 12, 2021 to consider approval of the merger between Longview Acquisition Corp. and Butterfly. The action, which was filed in the United States District Court for the District of New Jersey, alleges that the Company violated federal securities laws.
According to the filed complaint: (i) Butterfly had overstated its post-merger business and financial prospects; (ii) notwithstanding the ongoing COVID-19 pandemic, Butterfly’s financial projections failed to take into account the pandemic’s broad consequences, which included healthcare logistical challenges, and medical personnel fatigue; (iii) accordingly, Butterfly’s gross margin levels and revenue projections were less sustainable than the Company had represented; (iv) all the foregoing was reasonably likely to have a material negative impact on Butterfly’s business and financial condition; and (v) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Shareholders have until April 18, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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