The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Bird Global, Inc. F/K/A Switchback Ii Corporation (NYSE: BRDS) who purchased shares between May 14, 2021 and November 14, 2022. The action, which was filed in the United States District Court for the Central District of California, alleges that the Company violated federal securities laws.
(1) Bird was improperly recording revenue from its vehicle-sharing business and operations ("Sharing Revenue") for certain trips by its customers where collection was not probable; (2) as such, Bird overstated its Sharing Revenue for the relevant quarters and fiscal year during the Class Period; (3) Bird failed to disclose that its internal controls were not effective as they relate to calculating Sharing Revenue recognition; (4) as a result, Bird would need to restate its previously disclosed Sharing Revenue; and (5) as a result, defendants’ public statements were materially false and misleading at all relevant times.
Shareholders have until January 17, 2023 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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