Investors with losses are encouraged to contact the firm before October 18, 2021; click here to submit trade information
LOS ANGELES, Oct. 12, 2021 (GLOBE NEWSWIRE) — The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of View, Inc. (NASDAQ: VIEW) investors that acquired shares between Nov. 30, 2020 and Aug. 16, 2021. Investors have until October 18, 2021 to seek an active role in this litigation.
CF Finance Acquisition Corp. II was a special purpose acquisition company (“SPAC” or “blank check company”) which was formed for the specific purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. CF Finance Acquisition Corp. II and View combined via a business combination with View as the surviving, public entity on March 8, 2021.
It is alleged in this complaint that, throughout the Class Period, View made false and misleading statements and failed to disclose that: (i) View had not properly accrued warranty costs in relation to its product; (ii) there was a material weakness in View’s internal controls in regard to accounting and financial reporting in relation to warranty accrual; (iii) View’s financial results for prior periods were misstated as a result; and (iv) View’s positive statements about it’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis, as result.
View announced on August 16, 2021 that it “began an independent investigation concerning the adequacy of the company’s previously disclosed warranty accrual.” View’s share price fell more than 24% on this news, damaging investors.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than Nov. 30, 2020 and Aug. 16, 2021.
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The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar