Core Viewpoint - A class action lawsuit has been filed against Ibotta, Inc. for alleged violations of federal securities laws related to its April 18, 2024 IPO, claiming misleading statements in the registration statement [1][2][3]. Group 1: Lawsuit Details - The lawsuit seeks damages for investors who purchased Ibotta securities during the IPO [2]. - Allegations include failure to disclose risks associated with Ibotta's contract with Kroger, specifically that the contract was at-will, allowing Kroger to terminate it without notice [3]. - The complaint highlights that Ibotta did not adequately warn investors about the potential loss of a major client, which ultimately occurred as Kroger was no longer listed as a client by August 13, 2024 [3]. Group 2: Financial Impact - Following the IPO, Ibotta's stock price has significantly declined from the initial offering price of $88.00 per share, resulting in substantial losses for investors [3]. Group 3: Next Steps for Investors - Investors who suffered losses have until June 16, 2025, to request appointment as lead plaintiff in the class action [4]. - The law firm representing the investors operates on a contingency fee basis, meaning they will only collect fees if the case is successful [5].
IBTA INVESTOR ALERT: Bronstein, Gewirtz & Grossman LLC Announces that Ibotta, Inc. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit