DEADLINE ALERT: Faruqi & Faruqi, LLP Investigates Claims On Behalf Of Investors Of Ibotta

(MENAFN- PR Newswire) Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See .

As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose risks concerning Ibotta's contract with The Kroger Co. ("Kroger"). 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. 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. When the true details entered the market, the lawsuit claims that investors suffered damages.

On or around April 13, 2024, Ibotta conducted its initial public offering of 6.6 million shares priced at $88.00 per share.

Then, on August 13, 2024, Ibotta issued a press release reporting its financial results for the second quarter of 2024. In the results, Ibotta reported, among other items, a net loss of $34.0 million, attributable to operating expenses that more than doubled year-over-year. Ibotta also provided a third quarter revenue forecast in the range of $91 million to $96 million, below consensus estimates.

Following this news, Ibotta stock dropped $15.53 per share, or 26%, to close at $42.66 on August 14, 2024.

On February 26, 2025, after market hours, Investing published an article entitled "Ibotta shares plunge 30% as Q4 earnings miss, Q1 guidance disappoints." This article stated, in pertinent part, that Ibotta "saw its shares tumble [. . .] after reporting fourth-quarter earnings that fell short of expectations and providing weak guidance for the first quarter of 2025."

Following this news, Ibotta stock dropped $29.08 per share, or 46%, to close at $34.01 on February 27, 2025.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.

Faruqi & Faruqi, LLP also encourages anyone with information regarding Ibotta's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

To learn more about the Ibotta class action, go to /IBTA or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310) .

Follow us for updates on LinkedIn , on X , or on Facebook .

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ( ). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

SOURCE Faruqi & Faruqi, LLP

MENAFN10062025003732001241ID1109656429