Investors of Ibotta, Inc. Have Opportunity to Lead Class Action Lawsuit Following Substantial Losses

Investor Notice: Ibotta, Inc.

The law firm Robbins Geller Rudman & Dowd LLP has announced that investors who have incurred substantial losses from Ibotta, Inc. (symbol: IBTA), a publicly traded company, now have an opportunity to take a significant role in a class action lawsuit. This lawsuit is particularly focused on those who acquired Ibotta securities tied to the company's initial public offering (IPO) that took place around April 18, 2024.

Class Action Lawsuit Details

Investors are encouraged to consider joining the lawsuit titled Fortune v. Ibotta, Inc., under case number 25-cv-01213 in the District of Colorado. The allegations claim that Ibotta, along with some of its executives and IPO underwriters, have violated the Securities Act of 1933 by making materially false and misleading statements in the offering documents.

It's crucial for investors impacted by the IPO to note that the deadline to apply as lead plaintiff is June 16, 2025. To be considered, shareholders are invited to provide their details via Robbins Geller's dedicated webpage.

Background on Ibotta

Ibotta positions itself as a technology platform that connects consumer packaged goods brands with millions of users through its Performance Network. During its IPO, Ibotta offered 2.5 million shares at $88 each. However, the lawsuit claims that the documents produced for investors during this IPO contained serious oversights and omitted critical information.

According to the complaint, significant risks associated with Ibotta's contracts, particularly with major clients like The Kroger Co., were not adequately disclosed. Investors were not made aware that the contract with Kroger was at-will, meaning it could be terminated without notice, representing a huge risk to Ibotta’s revenue stream. Additionally, while details on the contract with Walmart were provided, the lack of warnings regarding the at-will nature of Kroger's contract was a glaring oversight.

Current Situation of Ibotta Securities

As of April 17, 2025, Ibotta's stock price has significantly dropped from the IPO price of $88. This decline has added to the financial strain on investors, prompting the formation of the class action suit.

Role of Lead Plaintiff

The Private Securities Litigation Reform Act of 1995 outlines that any investor who purchased Ibotta’s securities in connection with the IPO is eligible to apply as a lead plaintiff. The lead plaintiff plays a crucial role in the lawsuit by representing the interests of all other class members. The individual chosen will have the authority to direct the litigation and select legal counsel. However, it's worth noting that participating as a lead plaintiff does not impact the investor's potential recovery in any future settlements.

About Robbins Geller

Robbins Geller Rudman & Dowd LLP has earned a reputation as a leading law firm in the realm of securities fraud and shareholder litigation. With a track record of securing over $2.5 billion for investors in class action cases during 2024 alone, Robbins Geller is one of the largest plaintiffs' firms globally. Their expertise includes obtaining landmark settlements in securities litigation, making them a formidable advocate for investors seeking justice.

For more details on pursuing the Ibotta lawsuit, you can contact Robbins Geller’s attorneys J.C. Sanchez or Jennifer N. Caringal at 800-449-4900 or email [email protected]

This invitation to join the class action represents a critical opportunity for affected investors to hold Ibotta accountable while potentially recouping some of their losses.