Butterfly Network, Inc. (BFLY)
Class Action and Lead Plaintiff Deadline: April 18, 2022
Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Butterfly Network, Inc. ("Butterfly" or the "Company") (NYSE: BFLY) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Butterfly (a) common stock between February 16, 2021 and November 15, 2021, both dates inclusive (the “Class Period”), and/or (b) all holders of 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 and Butterfly (the “Merger”) and entitled to vote on the Merger. Such investors are encouraged to join this case.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
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: (1) Butterfly had overstated its post-Merger business and financial prospects; (2) 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; (3) accordingly, Butterfly’s gross margin levels and revenue projections were less sustainable than the Company had represented; (4) all the foregoing was reasonably likely to have a material negative impact on Butterfly’s business and financial condition; and (5) as a result, the Company’s public statements were materially false and misleading at all relevant times.
A class action lawsuit has already been filed. You can review a copy of the Complaint and sign the certification form or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Butterfly you have until April 18, 2022, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.