According to the lawsuit, defendants in the IPO registration statement and throughout the Class Period made false and/or misleading statements and/or failed to disclose that:
- Allbirds was overemphasizing products that extended beyond the Company’s core offerings;
- the Company’s non-core products had a narrower appeal and were not resonating with customers as well as the Company’s core products;
- Allbirds was underinvesting in its core consumers’ favorite products to push the Company’s newer products with narrower appeal;
- underinvesting in Allbirds’ core products was negatively impacting the Company’s sales; and
- 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.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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