Glancy Prongay & Murray LLP, a leading national shareholder rights law firm, announces that a securities fraud class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Ibotta, Inc. (“Ibotta” or the “Company”) (NYSE: IBTA) securities pursuant and/or traceable to the registration statement and related prospectus (collectively, the “Registration Statement”) issued in connection with the Company’s April 2024 initial public offering (the “IPO” or “Offering”). Ibotta investors have until June 16, 2025 to file a lead plaintiff motion.

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What Happened?

On April 18, 2024, Ibotta conducted its IPO, selling 2.5 million shares at $88.00 per share.

On August 13, 2024, after market hours, Ibotta released its second quarter 2024 financial results, revealing a net loss of $34 million, a 19% decline in direct-to-consumer redemptions, and a 7% reduction of direct-to-consumer redeemers. Additionally, despite being prominently featured in the Company’s Registration Statement, there was no mention of Kroger as Ibotta’s client in its quarterly report.

The price of Ibotta’s securities has plummeted since the IPO, devastating investors. As of April 17, 2025, Ibotta’s stock has traded significantly lower than the IPO price of $88.00 per share.

What Is The Lawsuit About?

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Kroger’s contract was at-will; (2) a large client could cancel their contract with Ibotta without warning; (3) despite providing a detailed explanation of the terms of Ibotta’s contract with Walmart, there was not a single warning of the at-will nature of Kroger’s contract; and (4) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

If you purchased or otherwise acquired Ibotta securities pursuant and/or traceable to the IPO, you may move the Court no later than June 16, 2025 to request appointment as lead plaintiff in this putative class action lawsuit.

Contact Us To Participate or Learn More:

If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us:

Charles Linehan, Esq.

Glancy Prongay & Murray LLP,

1925 Century Park East, Suite 2100

Los Angeles California 90067

Email: shareholders@glancylaw.com

Telephone: 310-201-9150

Toll-Free: 888-773-9224

Visit our website at www.glancylaw.com.

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If you inquire by email, please include your mailing address, telephone number and number of shares purchased.

To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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