The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Central District of California on behalf of investors who purchased Bird Global, Inc. F/K/A Switchback Ii Corporation (NYSE: BRDS) securities between May 14, 2021 and November 14, 2022.
(1) Bird was improperly recording revenue from its vehicle-sharing business and operations ("Sharing Revenue") for certain trips by its customers where collection was not probable; (2) as such, Bird overstated its Sharing Revenue for the relevant quarters and fiscal year during the Class Period; (3) Bird failed to disclose that its internal controls were not effective as they relate to calculating Sharing Revenue recognition; (4) as a result, Bird would need to restate its previously disclosed Sharing Revenue; and (5) as a result, defendants’ public statements were materially false and misleading at all relevant times.
If you suffered a loss in Bird you have until January 17, 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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