NEW YORK, April 18, 2025 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against Ibotta, Inc. (“Ibotta” or the “Company”) (NYSE: IBTA) in the United States District Court for the District of Colorado on behalf of all persons and entities who purchased or otherwise acquired Ibotta securities pursuant and/or traceable to the registration statement and related prospectus issued in connection with Ibotta’s April 18, 2024 initial public offering (the “Class Period”). Investors have until June 16, 2025, to apply to the Court to be appointed as lead plaintiff in the lawsuit.
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The Complaint alleges that in connection with the Initial Public Offering on April 18, 2024, Ibotta issued a registration statement that contained false and/or misleading statements or omissions. Specifically, the Complaint alleges that: (1) The registration statement failed to warn investors of the risks concerning Ibotta's contract with The Kroger Co. ("Kroger"); (2) Kroger's contract was at-will, and Ibotta failed to warn investors that a large client could cancel their contract with Ibotta without warning. Despite providing a detailed explanation of the terms of Ibotta's contract with another large customer, there was not a single warning of the at-will nature of Kroger's contract; (3) Rather than disclosing the very real risk of a major client walking away at any time, Ibotta provided boilerplate warnings concerning the importance of maintaining ongoing relationships with their clients; (4) By August 13, 2024, Kroger was no longer listed as a client in Ibotta's SEC filings; and (5) The price of Ibotta's securities has plummeted since the IPO, devastating investors. Currently, Ibotta stock trades significantly lower than the IPO price of $88.00 per share.
If you purchased or otherwise acquired Ibotta shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Marion Passmore by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
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Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
