SAN DIEGO, April 19, 2022 (GLOBE NEWSWIRE) -- Johnson Fistel, LLP is investigating potential breaches of fiduciary duty/or violations of federal and/or state law on behalf of Butterfly Network, Inc. (“Butterfly” or the “Company”) (NYSE: BFLY) against certain of its officers and directors.
If you are a current, long-term shareholder of Butterfly holding shares before February 16, 2021, you may have standing to hold Butterfly harmless from the alleged harm caused by the Company's officers and directors by making them personally responsible. You may also be able to assist in reforming the Company's corporate governance to prevent future wrongdoing.
To join this action, you can click or copy and paste the link below: https://www.johnsonfistel.com/investigations/butterfly-network-inc-bfly
Recently there was a class action filed against Butterfly. The complaint alleges that throughout the class period, defendants made materially false and misleading statements regarding the Company's business, operations, and compliance policies. Additionally, the Proxy and defendants failed to disclose that: (i) Butterfly had overstated its post-merger business and financial prospects; (ii) Butterfly’s financial projections failed to take into account the COVID-19 pandemic's broad consequences, which included healthcare logistical challenges, and medical personnel fatigue; and (iii) Butterfly's gross margin levels and revenue projections were less sustainable than the Company had represented.
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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. Johnson Fistel seeks to recover losses incurred due to violations of federal securities laws. 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
jimb@johnsonfistel.com
