Law Offices of Howard G. Smith announces an investigation on behalf of Allbirds, Inc. (“Allbirds” or the “Company”) (NASDAQ: BIRD) investors concerning the Company’s possible violations of federal securities laws.
In November of 2021, Allbirds conducted its initial public offering, issuing more than 20 million shares at $15.00 per share.
On March 9, 2023, after trading hours, Allbirds announced that its Chief Financial Officer, Mike Bufano, was stepping down. The Company also announced a fourth quarter 2022 net loss of $24.9 million and that the Company had a “strategic transformation plan to reignite growth, improve costs and capital efficiency, and drive profitability.”
On this news, Allbirds’ stock price fell $1.11, or 47%, to close at $1.25 per share on March 10, 2023, thereby injuring investors.
If you purchased Allbirds securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230317005060/en/
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
