PHILADELPHIA, Feb. 21, 2022 (GLOBE NEWSWIRE) -- Investor protection law firm Kaskela Law LLC announces that it is investigating Butterfly Network, Inc. (“Butterfly”) (NYSE: BFLY), f/k/a Longview Acquisition Corp. (“Longview”) (NYSE: LGVW), on behalf of the company’s long-term stockholders.
Butterfly, a digital health company, develops, manufactures, and commercializes ultrasound imaging solutions. The current business entity was formed in February 2021 through a business combination between then-private Butterfly and Longview, a special purpose acquisition company, with Butterfly as the surviving, publicly traded entity.
According to a recently filed stockholder complaint, the proxy statement filed in connection with the business combination made false and/or misleading statements and/or failed to disclose that: (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.
Current Butterfly stockholders who purchased or acquired LGVW or BFLY shares prior to January 25, 2021 are encouraged to contact Kaskela Law LLC (Adrienne Bell, Esq.) at (484) 229 – 0750, or by email at abell@kaskelalaw.com, to discuss this investigation and their legal rights and options. Additional information may also be found at https://kaskelalaw.com/cases/butterfly-network-inc/.
Kaskela Law LLC represents investors in securities fraud, corporate governance, and merger & acquisition litigation. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com. This notice may constitute attorney advertising in certain jurisdictions.
CONTACT:
D. Seamus Kaskela, Esq.
Adrienne Bell, Esq.
KASKELA LAW LLC
18 Campus Blvd., Suite 100
Newtown Square, PA 19073
(888) 715 – 1740
(484) 229 – 0750
www.kaskelalaw.com
