The Law Offices of Frank R. Cruz Announces Investigation of Butterfly Network, Inc. f/k/a Longview Acquisition Corp. (BFLY) on Behalf of Investors
LOS ANGELES, CA (ClassActionDaily) The Law Offices of Frank R. Cruz announces an investigation of Butterfly Network, Inc. (“Butterfly” or the “Company”) f/k/a Longview Acquisition Corp. (“Longview”) (NYSE: BFLY) on behalf of investors concerning the Company’s possible violations of federal securities laws.
On February 16, 2021, Longview completed its Merger with Butterfly.
Then on November 15, 2021, Butterfly released its third-quarter 2021 financial results, revealing that the Company’s total gross margin for the quarter was negative 35% and that it expected its fiscal 2021 revenue to be as much as $20 million below its initial guidance of $76 to $80 million. Butterfly’s CEO blamed the disappointing financial results on “healthcare logistical challenges, and doctor, nurse, and medical technician fatigue concurrent with COVID conditions and its broad consequences.”
On this news, Butterfly’s stock fell $1.08, or 12.6%, to close at $7.52 per share on November 15, 2021, thereby injuring investors.
If you purchased Butterfly securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to firstname.lastname@example.org, or visit our website at www.frankcruzlaw.com. If you inquire by email, please include your mailing address, telephone number, and the number of shares purchased.
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