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BRDS.US
id: 462, Created by Stan Vick Chase, Scout
Bird Global (BRDS) financial statement issues Case
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C.D. California
CourtOn 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.
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
14 November 2022