Rosen Law Firm, a global investor rights law firm, announces that it is investigating potential securities claims on behalf of shareholders of Allbirds, Inc. (NASDAQ: BIRD) resulting from allegations that Allbirds may have issued materially misleading business information to the investing public.
If you purchased Allbirds securities and would like to join the prospective action, please click “Join This Class Action.”
On March 9, 2023, after trading hours, Allbirds issued two press releases announcing “a strategic transformation plan to reignite growth in the coming years, as well as improve capital efficiency, and drive profitability” after falling short of expectations and also that the current Chief Financial Officer (CF) would step down.
On this news, the price of Allbirds’ stock fell $1.11, or 47%, to close at $1.25 per share on March 10, 2023.
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