SEC Announces Settled Charges Against View Inc. for Failing to Disclose Warranty-Related Liabilities
The US Securities and Exchange Commission has found View Inc., a California-based manufacturer of “smart” windows, in violation of securities laws for failing to disclose $28 million in projected warranty-related liabilities. The SEC decided not to impose civil penalties against View due to the company's cooperation with the investigation and self-reporting of misconduct. Additionally, the former CFO of View, Vidul Prakash, was charged with violating the negligence-based antifraud, proxy disclosure, and books and records provisions of the federal securities laws. The SEC is seeking permanent injunctions, civil penalties, and an officer and director bar against Prakash. Without admitting or denying the findings against them, View has agreed to cease and desist any further violations of the securities laws.