Faruqi & Faruqi Reminds Ibotta Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of June 16, 2025 - IBTA

Core Viewpoint - Ibotta, Inc. is facing potential legal claims due to alleged violations of federal securities laws related to misleading statements about its contract with Kroger, which could have significant implications for investors [5][3]. Group 1: Legal Investigation and Claims - Faruqi & Faruqi, LLP is investigating potential claims against Ibotta and has set a deadline of June 16, 2025, for investors to seek the role of lead plaintiff in a federal securities class action [3]. - The firm encourages investors who suffered losses exceeding $100,000 in Ibotta to contact them directly to discuss their legal options [1]. Group 2: Financial Performance and Stock Impact - Ibotta conducted its IPO on April 13, 2024, offering 6.6 million shares at a price of$88.00 per share [6]. - The company reported a net loss of $34.0 million for Q2 2024, with operating expenses more than doubling year-over-year, and provided a revenue forecast for Q3 2024 that fell below consensus estimates [7]. - Following the release of disappointing financial results, Ibotta's stock price dropped significantly, falling by$15.53 (26%) to close at $42.66 on August 14, 2024, and later by$29.08 (46%) to close at $34.01 on February 27, 2025, after further disappointing earnings [8]. Group 3: Contractual Risks - The complaint alleges that Ibotta failed to disclose the at-will nature of its contract with Kroger, which allowed the client to cancel the contract without warning, posing a significant risk to investors [5]. - Instead of providing clear warnings about the risks associated with client relationships, Ibotta offered generic statements about the importance of maintaining these relationships [5].