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IBTA Investors Have the Opportunity to Lead the Ibotta Securities Fraud Lawsuit with Faruqi & Faruqi, LLP
Ibotta, Inc.Ibotta, Inc.(US:IBTA) GlobeNewswire News Roomยท2025-04-29 15:16

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Ibotta, Inc. due to alleged violations of federal securities laws related to misleading statements about its contract with Kroger and subsequent financial performance, leading to significant investor losses. Group 1: Legal Investigation and Claims - Faruqi & Faruqi, LLP is encouraging investors who suffered losses exceeding $100,000 in Ibotta to contact them for legal options [1] - The firm is investigating claims against Ibotta and reminds investors of the June 16, 2025 deadline to seek the role of lead plaintiff in a federal securities class action [3] - The complaint alleges that Ibotta and its executives made false statements and failed to disclose risks regarding their at-will contract with Kroger, which could be canceled without warning [5] Group 2: Financial Performance and Stock Impact - Ibotta conducted its IPO on April 13, 2024, offering 6.6 million shares at $88.00 each [6] - On August 13, 2024, Ibotta reported a net loss of $34.0 million for Q2 2024, with operating expenses more than doubling year-over-year, and provided a revenue forecast below consensus estimates [7] - Following the Q2 report, Ibotta's stock dropped by $15.53 per share, or 26%, closing at $42.66 on August 14, 2024 [8] - On February 26, 2025, Ibotta's shares fell by $29.08 per share, or 46%, closing at $34.01 after reporting Q4 earnings that missed expectations and provided weak guidance for Q1 2025 [8]