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Lawsuit filed for Investors who lost Money in shares of Bird Global, Inc. (NYSE: BRDS)

12-02-2022 12:26 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit was filed on behalf of investors in Bird Global, Inc. (NYSE: BRDS) shares over alleged securities laws violations.

A lawsuit was filed on behalf of investors in Bird Global, Inc. (NYSE: BRDS) shares over alleged securities laws violations.

An investor, who purchased shares of Bird Global, Inc. (NYSE: BRDS), filed a lawsuit over alleged violations of Federal Securities Laws by Bird Global, Inc.

Investors who purchased shares of Bird Global, Inc. (NYSE: BRDS) have certain options and for certain investors are short and strict deadlines running. Deadline: January 17, 2023. NYSE: BRDS investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Miami, FL based Bird Global, Inc., a micromobility company, engages in delivering electric transportation solutions for short distances. Its sharing vehicles include e-scooters and e-bikes.

On November 14, 2022, Bird Global, Inc. announced a restatement of its financial statements for certain periods in 2020, 2021, and 2022. The restatements seek to correct an error regarding "recognition of revenue on certain trips completed by customers of its Sharing business for which collectability was not probable."

Shares of Bird Global, Inc. (NYSE: BRDS) declined from over 49 per share in December 2021 to as low as $0.20 per share on November 18, 2022.

The plaintiff claims that between May 14, 2021 and November 14, 2022,, the Defendants made materially false and/or misleading statements and/or failed to disclose that Bird was improperly recording Sharing Revenue for certain trips by its customers where collection was not probable, that as such, Bird overstated its Sharing Revenue for the relevant quarters and fiscal year between May 14, 2021 and November 14, 2022, that Bird failed to disclose that its internal controls were not effective as they relate to calculating Sharing Revenue recognition, that as a result, Bird would need to restate its previously disclosed Sharing Revenue, and that as a result, Defendants' public statements were materially false and misleading at all relevant times.

Those who purchased shares of Bird Global, Inc. (NYSE: BRDS) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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