Investigation announced for NYSE: BFLY Investors over possible Wrongdoing at Butterfly Network, Inc.

An investigation was announced for long-term investors in shares of Butterfly Network, Inc. (NYSE: BFLY) concerning potential breaches of fiduciary duties by certain directors of Butterfly Network, Inc..

Investors who are current long term investors in Butterfly Network, Inc. (NYSE: BFLY) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm for current long term investors in NYSE: BFLY stocks follows a lawsuit filed against Butterfly Network, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE: BFLY stocks, concerns whether certain Butterfly Network, Inc. directors are liable in connection with the allegations made in that lawsuit.

According to that complaint filed in the U.S. District Court for the District of New Jersey the plaintiff alleges that, the Proxy and the Defendants made false and/or misleading statements and/or failed to disclose that Butterfly had overstated its post-Merger business and financial prospects, that notwithstanding the ongoing COVID-19 pandemic, Butterfly's financial projections failed to take into account the pandemic's broad consequences, which included healthcare logistical challenges, and medical personnel fatigue, that accordingly, Butterfly's gross margin levels and revenue projections were less sustainable than the Company had represented, that all the foregoing was reasonably likely to have a material negative impact on Butterfly's business and financial condition, and that as a result, the Company's public statements were materially false and misleading at all relevant times.

Those who purchased shares of Butterfly Network, Inc. (NYSE: BFLY) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.