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IBTA INVESTOR ALERT: Ibotta, Inc. Investors with Substantial Losses Have Opportunity to Lead Investor Class Action Lawsuit
IBTAIbotta, Inc.(IBTA) Prnewswire·2025-04-30 19:38

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 the IPO to seek lead plaintiff status until June 16, 2025 [1][5]. - The lawsuit claims that Ibotta and its executives, along with the IPO underwriters, violated the Securities Act of 1933 [1][3]. - Ibotta sold 2.5 million shares at 88.00pershareduringitsIPO[2].Group2:AllegationsAgainstIbotta−ThelawsuitallegesthatIbottadidnotadequatelywarninvestorsabouttherisksrelatedtoitscontractwithTheKrogerCo.,whichwasat−willandcouldbecanceledwithoutnotice[3].−DespitedetailingthetermsofitscontractwithWalmartInc.,Ibottafailedtodisclosetheat−willnatureoftheKrogercontract,whichisasignificantriskforinvestors[3].Group3:CurrentSecuritiesPerformance−AsofApril17,2025,Ibotta′ssecuritieshavetradedsignificantlylowerthantheIPOpriceof88.00 per share during its IPO [2]. 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., which 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 significant risk for investors [3]. Group 3: Current Securities Performance - As of April 17, 2025, Ibotta's securities have traded significantly lower than the IPO price of 88.00 per share, indicating a decline in investor confidence [4].