LOS ANGELES–(BUSINESS WIRE)–The Law Offices of Frank R. Cruz announces an investigation of Allbirds, Inc. (“Allbirds” or the “Company”) (NASDAQ: BIRD) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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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.
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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 Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to [email protected], or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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