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., claims that Ibotta and its executives, along with IPO underwriters, violated the Securities Act of 1933 [1][3]. - Investors who purchased Ibotta securities during the IPO, which occurred around April 18, 2024, have until June 16, 2025, to apply for lead plaintiff status in the lawsuit [1][5]. - The lawsuit alleges that Ibotta's IPO documents were materially false and misleading, particularly regarding the risks of its contract with The Kroger Co. and the nature of its contract with Walmart Inc. [3][4]. Group 2: Financial Impact - Ibotta sold 2.5 million shares at a price of 88.00 per share during its IPO [2]. - As of April 17, 2025, Ibotta's securities have traded significantly lower than the IPO price, indicating substantial losses for investors [4]. Group 3: Legal Representation - Robbins Geller Rudman & Dowd LLP is representing investors in the class action lawsuit and is recognized as a leading law firm in securities fraud litigation [6]. - The firm has a strong track record, having recovered over 2.5 billion for investors in 2024 alone, and has been ranked 1 in securities class action services for four out of the last five years [6].
IBTA INVESTOR NOTICE: Ibotta, Inc. Investors with Substantial Losses Have Opportunity to Lead Investor Class Action Lawsuit