Core Viewpoint - Ibotta, Inc. is facing a class action lawsuit related to its initial public offering (IPO), with allegations of misleading information in its offering documents and failure to disclose significant risks associated with its contracts [1][3]. Group 1: Class Action Lawsuit Details - The class action lawsuit, titled Fortune v. Ibotta, Inc., allows purchasers of Ibotta's securities from its IPO on April 18, 2024, to seek lead plaintiff status by June 16, 2025 [1][5]. - The lawsuit claims that Ibotta and its executives, along with IPO underwriters, violated the Securities Act of 1933 [1][3]. - Ibotta sold 2.5 million shares at $88.00 per share during its IPO, but as of April 17, 2025, the securities have traded significantly lower than this price [2][4]. Group 2: Allegations Against Ibotta - The lawsuit alleges that Ibotta did not adequately warn investors about the risks related to its contract with The Kroger Co., specifically that the contract was at-will and could be canceled without notice [3]. - Despite detailing the terms of its contract with Walmart Inc., Ibotta failed to disclose the at-will nature of the Kroger contract, which is a critical risk factor for investors [3]. Group 3: Legal Representation - Robbins Geller Rudman & Dowd LLP is representing investors in this class action lawsuit and is recognized as a leading law firm in securities fraud and shareholder litigation [6]. - The firm has a strong track record, having recovered over $2.5 billion for investors in 2024 alone, and has been ranked 1 in securing monetary relief for investors [6].
IBTA INVESTOR NOTICE: Robbins Geller Rudman & Dowd LLP Announces that Ibotta, Inc. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit