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”) BIRD. The investigation concerns whether AllBirds and/or certain of its officers have violated federal securities laws and/or engaged in other illegal business practices.

AllBirds manufactures and distributes footwear products.

In November 2021, AllBirds completed its IPO and issued 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 net loss of $24.9 million for the fourth quarter of 2022 and that the company has a “strategic transformation plan to re-ignite growth, improve cost and capital efficiencies and increase profitability.” . As a result of this news, AllBirds stock fell $1.11 per share, or approximately 47.03%, from $2.36 per share to a closing price of $1.25 on March 9, 2023.

If you have purchased or otherwise acquired AllBirds securities, have information, or would like to learn more about this investigation, please contact Thomas W Elrod from Kirby McInerney LLP by email at investigations@kmllp.comor by filling this out Contact formto discuss your rights or interests in relation to these matters at no cost to you.

Kirby McInerney LLP is a New York-based plaintiffs’ law firm focused on securities, antitrust, whistleblower and consumer litigation. The firm’s efforts on behalf of shareholders in securities disputes have resulted in recoveries totaling billions of dollars. For more information about the company, visit Kirby McInerney LLP’s website: http://www.kmllp.com.

This press release may be considered an attorney’s advertisement in some jurisdictions under applicable laws and ethics rules.

contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq.
212-699-1180
https://www.kmllp.com
investigations@kmllp.com