“California Judge Dismisses Allbirds IPO Investor Lawsuit, Citing Supreme Court Slack Test”

In a significant legal development, a California federal judge has dismissed an investor class action against shoemaker Allbirds Inc. The suit accused the company of not adequately informing investors about the risks associated with its changing business strategy prior to its initial public offering. The ruling emphasized that shareholders must demonstrate their ability to meet the criteria established by the U.S. Supreme Court’s Slack test to proceed with the case. For further details, the [original article](https://www.law360.com/articles/2356752/judge-cites-slack-in-tossing-allbirds-investors-ipo-suit) provides additional context and analysis.