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 [email protected], 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.
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Kirby McInerney LLP
Thomas W. Elrod, Esq.
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