What was the View CFO sued for by the SEC?

The former CFO of View was sued by the SEC for allegedly allowing the company to understate the costs of replacing defective smart windows.

Did View go bankrupt?

Yes, View filed for Chapter 11 bankruptcy in April 2024 and agreed to go private.

What are smart windows?

Smart windows are window panes with tinted glass that automatically adjust their tint based on sunlight intensity.

Home / Business and Economy / View CFO Settles SEC Smart Window Fraud Case

View CFO Settles SEC Smart Window Fraud Case

27 Nov

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Summary

Former View CFO settled SEC lawsuit over understated window costs.
Settlement reached in principle; requires SEC commissioner approval.
Company later restated financials and filed for bankruptcy.

View CFO Settles SEC Smart Window Fraud Case

The former chief financial officer of View, Vidul Prakash, has reached an agreement in principle to settle a U.S. Securities and Exchange Commission lawsuit. The lawsuit accused him of negligently permitting View to understate the significant costs associated with replacing defective smart windows.

This proposed settlement requires final approval from SEC commissioners. It follows a previous judicial rejection of Prakash's arguments that the SEC could not prove his violation of federal securities laws. The SEC had alleged View understated window-related liabilities by $53 million in 2019 and 2020.

View, which went public in March 2021, later restated over two years of its financial statements and replaced Prakash as CFO. The Milpitas, California-based company subsequently filed for Chapter 11 bankruptcy in April 2024, agreeing to become a private entity.

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