INVESTOR ALERT: Shareholder Class Action Lawsuit Filed Against Ibotta, Inc. (NYSE: IBTA); DiCello Levitt LLP Encourages Investors with Losses to Discuss Their Options with Counsel

/EIN News/ -- SAN DIEGO, April 24, 2025 (GLOBE NEWSWIRE) -- A class action lawsuit has been filed on behalf of persons and entities that purchased or otherwise acquired publicly traded Ibotta, Inc. (NYSE: IBTA) (“Ibotta” or the “Company”) securities pursuant and/or traceable to the registration statement and prospectus (collectively, the “Registration Statement”) issued in connection with Ibotta’s April 18, 2024 initial public offering (the “IPO”), charging the Company, certain senior executives and directors, and the underwriters of the IPO with violations of the federal securities laws (collectively, “Defendants”).

Ibotta investors have until June 16, 2025 to seek appointment as lead plaintiff of the Ibotta class action lawsuit.

If you purchased or acquired Ibotta securities pursuant and/or traceable to the Registration Statement issued in connection with the IPO, and suffered substantial losses, and you wish to obtain additional information or serve as lead plaintiff in this lawsuit, you may submit your information and contact us here: https://dicellolevitt.com/securities/ibotta/.

You can also contact DiCello Levitt attorneys Brian O’Mara or Ruben Peña by calling (888) 287-9005 or emailing investors@dicellolevitt.com. Those who inquire by email are encouraged to include their mailing address, telephone number, and the number of shares purchased.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice.

Case Allegations

Ibotta is a technology company that provides a performance marketing platform to consumer-packaged goods (“CPG”) brands, enabling CPG brands to deliver digital promotions to their consumers through a network of publishers called the Ibotta Performance network (“IPN”).

The Ibotta lawsuit alleges that the Registration Statement issued in connection with the IPO contained untrue statements of material fact or omitted to state other facts necessary to make the statements made not misleading. Specifically, the Registration Statement stated that Ibotta “provide[s] offers on a white-label basis to Walmart, Inc. . . . [and] The Kroger Co., (Kroger)[.]” But despite providing a detailed explanation of the terms of Ibotta’s contract with Walmart, the Registration Statement failed to mention that Ibotta’s contract with Kroger, one of the Company’s largest clients, was “at-will” and did not warn investors that a large client could cancel their contract with Ibotta without warning.

The truth emerged on August 13, 2024, when Ibotta filed with the U.S. Securities and Exchange Commission its quarterly report on Form 10-Q for its second quarter of fiscal year 2024 (“2Q24 Form 10-Q”). In stark contrast to the Registration Statement, the Company’s 2Q24 Form 10-Q was notably missing any indication that Kroger was still one of Ibotta’s clients.

On this news, the price of Ibotta’s common stock fell by $15.53, or 26.68%, to close at $42.66 per share on August 14, 2024.

On the date the Ibotta lawsuit was filed, Ibotta stock closed at $47.69 per share, representing a 54% decline from the IPO price of $88 per share.

About DiCello Levitt

At DiCello Levitt, we are dedicated to achieving justice for our clients through class action, business-to-business, public client, whistleblower, personal injury, civil and human rights, and mass tort litigation. Our lawyers are highly respected for their ability to litigate and win cases – whether by trial, settlement, or otherwise – for people who have suffered harm, global corporations that have sustained significant economic losses, and public clients seeking to protect their citizens’ rights and interests. Every day, we put our reputations – and our capital – on the line for our clients.

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Media Contact

Amy Coker
4747 Executive Drive, Suite 240
San Diego, CA 92121
619-963-2426
investors@dicellolevitt.com