Case Status
Case Caption
Arias v. Birds Global, Inc., et al.
Lead Counsel
Practice Areas
U.S. District Court for the Central District of California
Judge Assigned
Hon. Otis D. Wright, II
Case Number
Bird Global, Inc. f/k/a Switchback II Corporation
Switchback II Corporation
Travis VanderZanden
Yibo Ling
Jim Mutrie
Scott McNeill
Stock Symbol
File Date
Class Period
Lead Plaintiff Deadline

The litigation challenges Bird’s reported financial results and accounting for its primary source of revenues – namely, from Bird’s Sharing business – whereby customers generally pay for rides from their preloaded wallet balances on a per-ride basis, and revenue is recognized at the completion of the ride.

According to the complaint, Defendants failed to disclose that: (1) Bird was improperly recording Sharing revenue for certain trips by its customers when collection was not probable; (2) as such, Bird was overstating 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; and, (4) as a result, Bird would need to restate its previously disclosed Sharing revenue.

Investors learned the truth on Nov. 14, 2022, when Bird announced that investors should no longer rely on the company’s audited financial statements for the years ended Dec. 31, 2021 and 2020, its quarterly financial statements within those years, or on its financial statements for the quarters ended March 31 and June 30, 2022. The company admitted it improperly recorded Sharing revenues for those periods when collectability was not probable, and further admitted that it recorded revenues for customers with insufficient pre-loaded wallet balances.

This news drove the price of Bird shares crashing 15% lower that day.


Amended Consolidated Complaint Filed
Lead Plaintiff and Lead Counsel Appointed

Complaint Filed

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