NEW YORK, Nov. 22, 2022 (GLOBE NEWSWIRE) -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of Bird Global, Inc. (“Bird” or “Company”) (NYSE: BRDS).
If you acquired Bird securities and would like to discuss our investigation, please contact us by emailing pmayer@kaplanfox.com or by calling (646) 315-9003 or our toll free number 1 (800) 290-1952.
On November 14, 2022, Bird announced a restatement of its financial statements for certain periods in 2020, 2021, and 2022. The restatement is due to an error regarding "recognition of revenue on certain trips completed by customers of its Sharing business (“Rides”) for which collectability was not probable." The Company stated that “the error resulted in an overstatement of Sharing revenue in the consolidated statements of operations for the impacted periods and an understatement of deferred revenue in the consolidated balance sheets as of the end of each impacted period.”
Following this news, Bird shares fell nearly 16% on November 14, 2022 and then declined more than 19% the next trading day to close at $0.2939 per share on November 15, 2022.
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If you have any questions about this investigation, please contact:
Pamela A. Mayer
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(212) 687-1980
E-mail: pmayer@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax: (415) 772-4707
E-mail: lking@kaplanfox.com
