View is a technology company that manufactures smart building products that are purportedly designed to improve people’s health, productivity, and experience while reducing energy consumption. On March 8, 2021, CF II, a special purpose acquisition company, and View combined via a Business Combination with View as the surviving, public entity. On August 16, 2021, after the market closed, View announced that it “began an independent investigation concerning the adequacy of the company’s previously disclosed warranty accrual.” On this news, the Company’s share price fell $1.26, or over 24%, to close at $3.92 per share on August 17, 2021, on unusually heavy trading volume. The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that View had not properly accrued warranty costs related to its product; (2) that there was a material weakness in View’s internal controls over accounting and financial reporting related to warranty accrual; (3) that, as a result, the Company’s financial results for prior periods were misstated; and (4) as a result, Defendants’ statements about its business, operations, and prospects were materially false and misleading and/or lacked reasonable basis at all relevant times.
The alleged class includes : All persons and entities that purchased or otherwise acquired View securities between November 30, 2020 and August 16, 2021, inclusive.
For More information as well as to join this case please contact Atara Twersky, Esq. at [email protected] or [email protected]. Atara is Principal at Twersky Law Group and Of counsel at AF&T law firm where she is director of Investor Services. Atara focuses her practice on assisting her clients with increasing their investment portfolio recoveries and ensuring that their portfolios remain healthy and robust. For more information on shareholder recoveries click here and to listen to Atara’s podcast with notable guests in the Pension fund Industry listen to Pension and Investments Podcast, on all matters related to your investment portfolio and more. For more information on Atara and her legal work connected to shareholder protection click here