A 96% stock price drop from Q4 2021 heights at the eco-minded footwear manufacturer has prompted a shareholder to file a federal lawsuit in the Northern District of California, accusing the company of making false and misleading statements in its Nov. 2021 prospectus and SEC registration statement which hid structural flaws in its business. The company’s IPO sold 16,850,799 shares of Class A common stock at $15.00 per share, bringing in net proceeds of about $237 million. The suit covers the Nov. 4, 2021 IPO through Mar. 9, 2023, when Allbirds’ ... Log in to view full article.