Bird’s Board Sued by Shareholder Over Scooter Revenue Records

A shareholder of electric scooter company Bird Global Inc. alleges that the company’s directors breached their fiduciary duties when Bird overstated revenue for its bike-sharing business.

Bird’s directors and its former chief financial officer “willfully or recklessly” caused the company to make misleading financial statements, according to a suit filed Friday by shareholder Ashkan Farazmand in the US District Court for the Central District of California.

Bird’s securities filings since late 2021 overstated the bike-sharing revenue and failed to disclose that some of its internal controls were ineffective, the lawsuit said. Bird will take a reputational hit, the suit said, ...