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NEW YORK, June 8, 2023 /PRNewswire/ — Levi & Korsinsky, LLP notifies investors in Allbirds, Inc. (“Allbirds” or the “Company”) BIRD of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Allbirds investors who were adversely affected by alleged securities fraud. This lawsuit is on behalf of persons and entities that purchased or otherwise acquired: (a) Allbirds 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) Allbirds securities between November 4, 2021 and March 9, 2023, inclusive. Follow the link below to get more information and be contacted by a member of our team:
BIRD investors may also contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.
CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed 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.
WHAT’S NEXT? If you suffered a loss in Allbirds during the relevant time frame, 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.
NO COST TO YOU: If you are a class…
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