NEW
YORK, May 5, 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=38880&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