NEW YORK,
April 28,
2023 /PRNewswire/ -- Jakubowitz Law announces that a
securities fraud class action lawsuit has commenced on behalf of
shareholders of Allbirds, Inc. (NASDAQ: BIRD).
To receive updates on the lawsuit, fill out
the
form:
https://claimyourloss.com/securities/allbirds-class-action-loss-submission-form/?id=38587&from=4
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.
Shareholders interested in acting as a lead
plaintiff representing the class of wronged shareholders have until
June 12, 2023 to petition the
court. Your ability to share in any recovery doesn't require that
you serve as a lead plaintiff.
According to a filed complaint, Allbirds, Inc.
issued materially false and/or misleading statements and/or failed
to disclose 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.
Jakubowitz Law is vigorous in pursuit of justice
for shareholders who have been the victim of securities fraud.
Attorney advertising. Prior results do not guarantee similar
outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (628) 895-0423
F: (212) 537-5887
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SOURCE Jakubowitz Law