View Announces Settlement of Previously Disclosed SEC Investigation
July 05 2023 - 7:30AM
View, Inc. (Nasdaq: VIEW) (“View” or the “Company”) today announced
that it has entered into a settlement with the U.S. Securities and
Exchange Commission (the “SEC”), resolving the previously disclosed
SEC investigation arising from the Company’s restated
warranty-related accruals in its financial statements. In light of
View’s self-reporting, prompt remediation and cooperation, the SEC
determined not to impose a civil penalty on the Company and there
are no ongoing undertakings in connection with the settlement.
On May 31, 2022, View issued a Current Report on Form 8-K that
disclosed its total restated year-end 2019 warranty liability as
$53 million and its total restated year-end 2020 warranty liability
as $48 million. On June 15, 2022, View issued an Annual Report on
Form 10-K that marked the completion of the Company’s financial
restatement.
About ViewView is the leader in smart building
technologies that transform buildings to improve human health and
experience, reduce energy consumption and carbon emissions, and
generate additional revenue for building owners. View Smart Windows
use artificial intelligence to automatically adjust in response to
outdoor conditions, eliminating the need for blinds and increasing
access to natural light. Every View installation includes a
cloud-connected smart building platform that can easily be extended
to reimagine the occupant experience. View’s products are installed
in offices, apartments, airports, hotels, and educational
facilities. For more information, please visit: www.view.com.
For further information:
Investors: View, Inc.
IR@View.com408-493-1358
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