The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of investors who purchased Allbirds, Inc. (NASDAQ: BIRD) : (a) Class A common stock pursuant and/or traceable to the registration statement and prospectus issued in connection with the Company’s November 2021 initial public offering; and/or (b) securities between November 4, 2021 and March 9, 2023, inclusive.
According to the Allbirds lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Allbirds was overemphasizing products that extended beyond the Company’s core offerings; (2) the Company’s non-core products had a narrower appeal and were not resonating with customers as well as the Company’s core products; (3) Allbirds was underinvesting in its core consumers’ favorite products to push the Company’s newer products with narrower appeal; (4) underinvesting in Allbirds’ core products was negatively impacting the Company’s sales; and (5) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
If you suffered a loss in Allbirds you have until June 12, 2023 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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