Jan 25, 2023 | Blog, Shareholder Investigations
Kehoe Law Firm, P.C. is investigating whether certain directors and officers of CF Finance Acquisition Corp. II (“CF Finance II”) (NASDAQ: CFII), now known as View, Inc. (“View”) (NASDAQ: VIEW), breached their fiduciary duties to CF Finance’s shareholders.
The investigation concerns whether CF Finance II’s board of directors or executive officers breached their duties of disclosure, duties of candor, and requirements to act in good faith, and whether CF Finance II’s shareholders suffered damages as a result.
-On March 5, 2021, CF Finance II shareholders of record as of January 27, 2021 approved a merger between CF Finance II and View. In the months following the merger, negative information repeatedly emerged about the operations at View, including:
-On August 8, 2021, View announced that its Audit Committee had retained outside legal counsel and accounting advisors to investigate the company’s prior financial statements.
-On November 9, 2021, View announced that the Audit Committee’s investigation was “substantially complete” and had determined that “previously reported liabilities associated with all warranty-related obligations and the cost of revenue associated with the recognition of those liabilities were materially misstated,” requiring View to restate previously issued financial statements.
-In connection with these findings, View further disclosed that its Chief Financial Officer had resigned.
-On May 10, 2022, barely one year after the merger, View disclosed that it “anticipates that it will be disclosing substantial doubt about the Company’s ability to continue as a going concern, as the Company does not currently have adequate financial resources to fund its forecasted operating costs and meet its obligations for at least twelve months from the expected issuance date of its 2021 financial results.”
These developments contrast with statements CF Finance II made in support of the merger, and the View stock price has declined significantly since the merger.
VIEW STOCK INVESTORS WHO HELD CF FINANCE II SHARES ARE ENCOURAGED TO CLICK HERE TO CONTACT KEHOE LAW FIRM, P.C. AND PROVIDE DETAILS OF THEIR VIEW/CF FINANCE II SECURITIES.
VIEW SHAREHOLDERS WHO HELD CF FINANCE II STOCK ARE ALSO ENCOURAGED TO CONTACT MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, [email protected], [email protected], TO LEARN MORE ABOUT THE INVESTIGATION OR POTENTIAL LEGAL CLAIMS.
Jan 25, 2023 | Blog, Shareholder Investigations
Kehoe Law Firm, P.C. is investigating whether certain directors and officers of Fifth Wall Acquisition Corp. I (“Fifth Wall”) (NASDAQ: FWAA), now known as SmartRent, Inc. (“SmartRent”) (NYSE: SMRT), breached their fiduciary duties to Fifth Wall’s shareholders.
The investigation concerns whether Fifth Wall’s board of directors or executive officers breached their duties of disclosure, duties of candor, and requirements to act in good faith, and whether Fifth Wall’s shareholders suffered damages as a result.
On August 23, 2021, Fifth Wall shareholders of record as of July 27, 2021 approved a merger between Fifth Wall and SmartRent.
On November 10, 2021, SmartRent announced its third quarter results and revised guidance downward for the remainder of 2021 from $119 million down to a range of $100 to $105 million. The company also reported negative quarterly adjusted EBITDA of $16.1 million and an overall quarterly loss from operations of $26 million.
On this news, the stock dropped below $10 per share, and the stock has declined significantly since the merger.
INVESTORS OF SMARTRENT STOCK WHO HELD FIFTH WALL SHARES ARE ENCOURAGED TO CLICK HERE TO CONTACT KEHOE LAW FIRM, P.C. AND PROVIDE DETAILS OF THEIR SMARTRENT/FIFTH WALL SECURITIES.
SMARTRENT SHAREHOLDERS WHO HELD FIFTH WALL STOCK ARE ALSO ENCOURAGED TO CONTACT MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, [email protected], [email protected], TO LEARN MORE ABOUT THE INVESTIGATION OR POTENTIAL LEGAL CLAIMS.
Jan 24, 2023 | Blog, Shareholder Investigations
Kehoe Law Firm, P.C. is investigating whether certain directors and officers FG New America Acquisition Corp. (“FG New America”) (NYSE: FGNA), now known as OppFi Inc. (“OppFi”) (NYSE: OPFI), breached their fiduciary duties to FG New America’s shareholders.
The investigation concerns whether FG New America’s board of directors or executive officers breached their duties of disclosure, duties of candor, and requirements to act in good faith, and whether FG New America’s shareholders suffered damages as a result.
On July 16, 2021, FG New America shareholders of record as of June 21, 2021 approved a merger between FG New America and OppFi.
In March 2022, the California Department of Financial Protection and Innovation sued OppFi for regulatory violations and exceeding interest rate caps, and both the CEO and the CFO resigned within a few days thereof.
On December 9, 2022, OppFi announced that its Audit Committee determined that all financial statements for 2021 “should no longer be relied upon due to a misapplication of accounting guidance in connection with the Company’s calculations of diluted earnings per share for such periods.”
OppFi’s stock price has declined significantly since the merger.
INVESTORS OF OPPFI STOCK WHO HELD FG NEW AMERICA SHARES ARE ENCOURAGED TO CLICK HERE TO CONTACT KEHOE LAW FIRM, P.C. AND PROVIDE DETAILS OF THEIR KATAPULT/FINSERV SECURITIES.
OPPFI SHAREHOLDERS WHO HELD FG NEW AMERICA STOCK ARE ALSO ENCOURAGED TO CONTACT MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, [email protected], [email protected], TO LEARN MORE ABOUT THE INVESTIGATION OR POTENTIAL LEGAL CLAIMS.
Jan 24, 2023 | Blog, Shareholder Investigations
Kehoe Law Firm, P.C. is investigating whether certain directors and officers of FinServ Acquisition Corp. (“FinServ”) (NASDAQ: FSRV), now known as Katapult Holdings, Inc. (“Katapult”) (NASDAQ: KPLT), breached their fiduciary duties to FinServ’s shareholders.
The investigation concerns whether FinServ’s board of directors or executive officers breached their duties of disclosure, duties of candor, and requirements to act in good faith, and whether FinServ’s shareholders suffered damages as a result.
On June 7, 2021, FinServ shareholders of record as of May 11, 2021 approved a merger between FinServ and Katapult.
On August 10, 2021, Katapult announced quarterly financial results, which included disappointing revenue and earnings numbers. Katapult also pulled all future guidance, and Katapult stock has declined significantly since the merger.
INVESTORS OF KATAPULT STOCK WHO HELD FINSERV SHARES ARE ENCOURAGED TO CLICK HERE TO CONTACT KEHOE LAW FIRM, P.C. AND PROVIDE DETAILS OF THEIR KATAPULT/FINSERV SECURITIES.
INVESTORS OF KATAPULT HOLDINGS WHO HELD FINSERV STOCK ARE ALSO ENCOURAGED TO CONTACT MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, [email protected], [email protected], TO LEARN MORE ABOUT THE INVESTIGATION AND POTENTIAL LEGAL CLAIMS.
Jan 10, 2023 | Blog, Shareholder Investigations
Kehoe Law Firm, P.C. is investigating whether certain directors and officers of Southwest Airlines Co. (“Southwest Airlines”) (NYSE: LUV) breached their fiduciary duties to Southwest Airlines and its shareholders.
The investigation concerns whether the board of directors or senior management of Southwest Airlines failed to manage Southwest Airlines in an acceptable manner, in breach of their fiduciary duties to Southwest Airlines, and whether Southwest Airlines and its shareholders have suffered damages as a result.
On December 26, 2022, the U.S. Transportation Department announced it was investigating the large number of cancellations of Southwest Airlines’ flights during the holiday travel season.
INVESTORS OF SOUTHWEST AIRLINES ARE ENCOURAGED TO CLICK HERE TO CONTACT KEHOE LAW FIRM, P.C. AND PROVIDE DETAILS OF THEIR SOUTHWEST AIRLINES SECURITIES.
SHAREHOLDERS OF SOUTHWEST AIRLINES STOCK ARE ALSO ENCOURAGED TO CONTACT MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, [email protected], [email protected], TO DISCUSS THE INVESTIGATION AND FOR A FREE, NO-OBLIGATION EVALUATION OF POTENTIAL LEGAL CLAIMS.
Jan 10, 2023 | Blog, Shareholder Investigations
Kehoe Law Firm, P.C. is investigating whether certain directors and officers of Wells Fargo & Company (“Wells Fargo”) (NYSE: WFC) breached their fiduciary duties to Wells Fargo and its shareholders.
The investigation concerns whether the board of directors or senior management of Wells Fargo failed to manage Wells Fargo in an acceptable manner, in breach of their fiduciary duties to Wells Fargo, and whether Wells Fargo and its shareholders have suffered damages as a result.
On December 20, 2022, the U.S. Consumer Financial Protection Bureau (“CFPB”) announced it had ordered Wells Fargo to pay $3.7 billion in penalties and consumer payments for charging illegal fees and interest on auto and mortgage loans.
WELLS FARGO INVESTORS ARE ENCOURAGED TO CLICK HERE TO CONTACT KEHOE LAW FIRM, P.C. AND PROVIDE DETAILS OF THEIR WELLS FARGO SECURITIES.
SHAREHOLDERS OF WELLS FARGO STOCK ARE ALSO ENCOURAGED TO CONTACT MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, [email protected], [email protected], TO DISCUSS THE INVESTIGATION AND FOR A FREE, NO-OBLIGATION EVALUATION OF POTENTIAL LEGAL CLAIMS.
