Kehoe Law Firm, P.C. is investigating whether Bird Global, Inc. (“Bird Global” or the “Company”) (NYSE: BRDS) and/or its officers and directors violated federal securities laws.
INVESTORS OF BIRD GLOBAL STOCK WITH FINANCIAL LOSSES GREATER THAN $25,000 ARE ENCOURAGED TO CONTACT JOHN KEHOE, ESQ., (215) 792-6676, EXT. 801, [email protected], [email protected], TO DISCUSS THE SECURITIES INVESTIGATION OR POTENTIAL LEGAL CLAIMS.
On November 11, 2022, Bird Global reported that ” . . . (i) the Company’s audited consolidated financial statements as of December 31, 2021 and 2020, and for the years then ended, and quarterly periods within those years, included in the Annual Report on Form 10-K filed with the Securities and Exchange Commission . . . on March 15, 2022, (ii) its condensed consolidated financial statements as of March 31, 2022, and for the three months then ended, included in the Quarterly Report on Form 10-Q filed with the SEC on May 16, 2022 and (iii) its condensed consolidated financial statements as of June 30, 2022, and for the three and six months then ended, included in the Quarterly Report on Form 10-Q filed with the SEC on August 15, 2022 . . . should no longer be relied upon. Similarly, 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.”
Bird Global also reported that “[t]he determination results from an error identified in connection with the preparation of the Company’s condensed consolidated financial statements as of September 30, 2022, and the three and nine months then ended, related to its business system configuration that impacted the recognition of revenue on certain trips completed by customers of its Sharing business (‘Rides’) for which collectability was not probable.”
On this news, shares of Bird Global stock were down more than 16% during intraday trading on November 14, 2022.