NEW YORK, March 14, 2023 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Allbirds, Inc. (“Allbirds” or the “Company”) (NASDAQ: BIRD). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Allbirds and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On or around November 3, 2021, Allbirds conducted its initial public offering (“IPO”), issuing 20.2 million shares priced at $15.00. Then, on March 9, 2023, after trading hours, Allbirds issued a press release 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. In a separate press release, Allbirds announced the impending departure of its Chief Financial Officer.
On this news, Allbirds’ stock price fell $1.11 per share, or 47.03%, to close at $1.25 per share on March 10, 2023.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
Robert S. Willoughby
888-476-6529 ext. 7980
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SOURCE Pomerantz LLP