(BFLY) DEADLINE: Did You Suffer a Substantial Loss? Contact Johnson Fistel About Leading Butterfly Network, Inc. f/k/a Longview Acquisition Corp. Class Action Lawsuit
To serve as lead plaintiff in this class action, you must move the Court no later than April 18, 2022.
SAN DIEGO, Feb. 17, 2022 (GLOBE NEWSWIRE) -- Shareholder Rights Law Firm Johnson Fistel, LLP announces that a class action lawsuit has commenced on behalf of investors of Butterfly Network, Inc. (“Butterfly” or the “Company”) f/k/a Longview Acquisition Corp. (“Longview”) (NYSE: BFLY) who purchased Butterfly common stock between February 16, 2021 and November 15, 2021, both dates inclusive (the “Class Period”). To serve as lead plaintiff in this class action, you must move the Court no later than April 18, 2022.
What actions may I take at this time? If you suffered a substantial loss and are interested in learning more about being a lead plaintiff, please contact Jim Baker ([email protected]) by email or phone at 619-814-4471. If emailing, please include a phone number. Additionally, you can:
To join this action, you can go to: https://www.cognitoforms.com/JohnsonFistel/ButterflyNetworkIncFkaLongviewAcquisitionCorp
or [Click here to join this action]. There is no cost or obligation to you.
Longview was a special purpose acquisition company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses.
Butterfly, a digital health company, develops, manufactures, and commercializes ultrasound imaging solutions in the United States and internationally. The Company offers Butterfly iQ, a handheld and single-probe whole body ultrasound system; and Butterfly iQ+, a point-of-care ultrasound imaging device that connects with a smart phone or tablet.
Between late 2019 and early 2020, a novel strain of the coronavirus disease, commonly referred to as COVID-19, became an ongoing global pandemic, with the outbreak first identified in Wuhan, China, in December 2019. The virus quickly spread to other countries, including the U.S., prompting state, federal, and private parties to enact various health and safety measures to halt the spread of the disease, which has since claimed millions of lives.
On November 20, 2020, almost one year into the ongoing COVID-19 pandemic, Butterfly issued a press release announcing that it had entered into a merger agreement with Longview. On the basis of the defective Proxy, on February 12, 2021, Longview shareholders voted to approve the Merger at a special shareholder meeting. Following the consummation of the Merger on February 16, 2021, Longview changed its name to “Butterfly Network, Inc.” and Butterfly stock began trading on the New York Stock Exchange.
The complaint alleges that, The Proxy was negligently prepared and, as a result, contained untrue statements of material fact or omitted to state other facts necessary to make the statements made not misleading and were not prepared in accordance with the rules and regulations governing its preparation. Additionally, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and compliance policies. Specifically, the Proxy and Defendants 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.
A lead plaintiff will act on behalf of all other class members in directing the Butterfly class-action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class-action lawsuit. An investor's ability to share any potential future recovery of the Butterfly class action lawsuit is not dependent upon serving as lead plaintiff.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
[email protected]
To join this action, you can go to: https://www.cognitoforms.com/JohnsonFistel/ButterflyNetworkIncFkaLongviewAcquisitionCorp
or [Click here to join this action]. There is no cost or obligation to you.
