NEW YORK, March 17, 2023 (GLOBE NEWSWIRE) — The law firm of Kirby McInerney LLP is investigating potential claims against AllBirds, Inc. (“AllBirds” or the “Company”) (NASDAQ:BIRD). The investigation concerns whether AllBirds and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
AllBirds manufactures and retails footwear products.
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, 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, the price of AllBirds shares declined by $1.11 per share, or approximately 47.03%, from $2.36 per share to close at $1.25 on March 9, 2023.
If you purchased or otherwise acquired AllBirds securities, have information, or would like to learn more about this investigation, please contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: http://www.kmllp.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq.
212-699-1180
https://www.kmllp.com
investigations@kmllp.com
- World’s Largest Travel Membership Club Suspends Membership Sales In Poland Due To Assessment by Local Regulator - March 23, 2023
- Combined Sales of Infertility Drugs Market Will Cross US$ 6,814.68 million by 2033; Ovulation Disorder is Leading to a Rise in Demand for Infertility Drugs | Future Market Insights, Inc. Study - March 22, 2023
- Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Lumen, Vertex Energy, Fidelity National, and Match and Encourages Investors to Contact the Firm - March 22, 2023
