Bird Global (BRDS) financial statement issues Case

The defendant has requested the court to dismiss the case.

C.D. California

Court

2:22-cv-08406

Case number

05/14/2021

Class period Start

11/14/2022

Class period End

On November 14, 2022, Bird (BRDS) filed a Form 8-K announcing it would restate its consolidated financial statements for certain periods due to issues concerning the recognition of Sharing Revenue.

The press release stated that "... any previously furnished or filed reports, related earnings releases, investor presentations or similar communications of the Company describing the Company’s financial results contained in the Original Filings should no longer be relied upon.

On this news, BRDS stock dropped about 16%, seriously damaging investors.

Now, Investors have reasons to suspect that Bird, its Leaders, and its Service Providers breached their fiduciary duties or performed their activities with gross negligence.

Case Status

Motion to dismiss

Alleged Offence

Misleading Statements,

Financial Misrepresentation,

Failure to Disclose,

Negligence,

Breach of Fiduciary duty,

Omissions

Suspected Party

Directors,

Management,

Shareholder,

Investment Bank,

Service Provider

Security Type

Stocks

Trade Direction

Long

Shock Event Date

11/14/2022

Filing date

11/17/2022

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