LOS ANGELES, Jan. 12, 2023 (GLOBE NEWSWIRE) — Glancy Prongay & Murray LLP (“GPM”) reminds investors of what’s to come January 17, 2023 Deadline for filing a motion by lead plaintiff in the class action lawsuit filed on behalf of investors who have purchased or otherwise acquired Bird Global, Inc. f/k/a Switchback II Corporation (“Bird” or the “Company”) BRDS securities between May 14, 2021 and November 14, 2022inclusive (the “Class Period”).

If you have suffered a loss on your Bird investments or would like to inquire about the possibility of making claims for recovery of your loss under the federal securities laws, you may submit your contact information at www.glancylaw.com/cases/bird-global-inc/. You can also contact GPM’s Charles H. Linehan at 310-201-9150, toll free at 888-773-9224, or email at shareholders@glancylaw.com to learn more about your rights.

On November 14, 2022, Bird announced that it would adjust its financial statements for certain periods in 2020, 2021 and 2022. According to the company, the adjustments aim to correct errors related to the “recognition of revenue from certain trips made by the company’s customers sharing transactions where collectibility was not likely.”

As a result of this news, Bird stock prices fell $0.069, or more than 15%, to close at $0.364 per share on November 14, 2022, hurting investors.

The Complaint filed in this Class Action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and failed to disclose material adverse facts about the Company’s business, operations and prospects. Specifically, the defendants failed to disclose to investors that: (1) Bird failed to properly record revenue share for certain of its customers’ trips where collection was not likely; (2) as such, Bird overstated its revenue share for the relevant quarters and fiscal year during the Class Period; (3) Bird has not disclosed that its internal controls were not effective as they relate to the calculation of revenue share…