NEW YORK, Aug. 19, 2021 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that a class action lawsuit has been filed against View, Inc. (f/k/a CF Finance Acquisition Corp. II) (“View” or the “Company”) (NASDAQ: VIEW) in the United States District Court for the Northern District of California on behalf of those who purchased or otherwise acquired View publicly traded securities between November 30, 2020 and August 16, 2021, inclusive (the “Class Period”).
The Complaint alleges that Defendants made false and misleading statements and failed to disclose that: (i) View had not properly accrued warranty costs related to its product; (ii) there was a material weakness in View’s internal controls over accounting and financial reporting related to warranty accrual; (iii) as a result, View’s financial results for prior periods were misstated; and (iv) consequently, Defendants’ positive statements about View’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
On August 16, 2021, View announced that it “began an independent investigation concerning the adequacy of the company’s previously disclosed warranty accrual.” On this news, View’s share price fell more than 24%, damaging investors.
Investors who purchased or otherwise acquired shares of View during the Class Period should contact the Firm prior to the October 16, 2021 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at [email protected] or [email protected].
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