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Allbirds, Inc. (NASDAQ: BIRD) Securities Fraud Class Action

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COMPANY         Allbirds, Inc.
COURT United States District Court for the Northern District of California
CASE NUMBER 23-cv-01811
JUDGE The Hon. Araceli Martinez-Olguin
CLASS PERIOD November 4, 2021 and March 9, 2023 and/or Class A Common Stock pursuant and/or traceable to Allbirds November 2021 IPO
SECURITY TYPE  Class A Common Stock and/or Securities

Case Background:

A class action lawsuit has been filed on behalf of those who purchased or otherwise acquired Allbirds, Inc. (NASDAQ: BIRD) (“Allbirds”) Class A common stock: (1) pursuant and/or traceable to the registration statement and prospectus (collectively, the “Registration Statement”) issued in connection with the company’s November 2021 initial public offering (“IPO”); and/or (2) Allbirds securities between November 4, 2021 and March 9, 2023, both dates inclusive (the “Class Period”).

The complaint alleges that in the Registration Statement and throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors 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 its 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.

Current Status of Case:

On September 15, 2023 the Lead Plaintiffs filed an Amended Complaint.  This action is ongoing. 

If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP:  Jonathan Naji, Esq. (484) 270-1453 or via e-mail at info@ktmc.com.  If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.

Please complete this form relating to your transactions for Allbirds, Inc. (NASDAQ: BIRD) Class A common stock: (1) pursuant and/or traceable to the registration statement and prospectus (collectively, the “Registration Statement”) issued in connection with the company’s November 2021 initial public offering (“IPO”); and/or (2) Allbirds securities between November 4, 2021 and March 9, 2023, both dates inclusive (the “Class Period”).

You may also contact Jonathan Naji, Esq. (484) 270-1453; or you may submit your information via email at info@ktmc.com; or you may click here to print a PDF of this form.

SUBMIT YOUR INFORMATION
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Date
# of Shares
Price per Share
Date
Principal Amount
Amount Paid
Series or CUSIP
Date
# of Contracts
Price per Contract
Exercise Price
Expiration Date
Did you purchase shares of Allbirds, Inc. Class Action prior to the Class Period?
Are you a current or former employee of Allbirds, Inc. Class Action?
The submission of this form does not create an attorney-client relationship, nor an obligation on the part of Kessler Topaz or you to file a lead plaintiff motion in this matter. Any information you submit will be maintained as confidential. If Kessler Topaz, in its sole discretion, believes that you might be an appropriate lead plaintiff candidate, Kessler Topaz will contact you to discuss the matter and whether to establish an attorney client relationship. By signing this form you are authorizing us to contact you regarding this case and/or future cases.
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