Allbirds, Inc. (NASDAQ: BIRD)

This lawsuit is for anyone who acquired securities in Allbirds, Inc. (NASDAQ: BIRD) from November 4, 2021 through March 9, 2023.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, in both the Prospectus to the Company’s IPO, and throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by failing to timely inform investors that the Company was overemphasizing products that extended beyond the Company’s core offerings and that did not resonate with the Company’s customers while simultaneously underinvesting in the Company’s core products.

On March 9, 2023, after trading hours, Allbirds announced that its Chief Financial Officer, Mike Bufano, was stepping down. The Company also announced a fourth quarter 2022 net loss of $24.9 million and that the Company had a “strategic transformation plan to reignite growth, improve costs and capital efficiency, and drive profitability.” On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Allbirds, Inc. (NASDAQ: BIRD) from November 4, 2021 through March 9, 2023 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.