Securities Action Targets Medical Imaging Company's SPAC Merger
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February 18, 2022 at 02:17 PM
1 minute read
Butterfly Network, a provider of medical imaging tools, and its top officers were hit with a securities class action Wednesday in New Jersey District Court in connection with its 2021 SPAC merger with Longview Acquisition Corp. The action, filed by Pomerantz LLP, contends that the proxy statement issued in connection with the transaction contained misleading statements regarding the company's financial projections by failing to consider the pandemic's broad consequences on the health care industry. Counsel have not yet appeared for the defendants. The case is 2:22-cv-00854, Rose v. Butterfly Network, Inc. et al.
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