Levi & Korsinsky Files Ibotta Class Action Lawsuit.
Levi & Korsinsky, LLP, a respected securities law firm, has filed a class action lawsuit on behalf of investors who purchased Ibotta, Inc. (NYSE: IBTA) stock during its April 18, 2024 initial public offering (IPO) and suffered losses. The suit alleges that Ibotta misled investors by failing to disclose key risks.
The lawsuit alleges that Ibotta provided a detailed account of its relationship with Walmartbut failed to warn investors about the nature of its contract with Kroger, another major client.
Unlike the Walmart agreement, Kroger’s contract with Ibotta was at-will, meaning Kroger could cancel at any time without warning. Ibotta’s IPO filings didn’t mention this key risk, instead including only generic statements about maintaining client relationships.
This left investors unaware of the very real possibility of losing a major client, which could impact Ibotta’s financial performance.
If you purchased Ibotta stock during or connected to the IPO and experienced losses, you may be eligible to participate in the lawsuit and seek compensation.
Ibotta, known for its popular cash-back rewards app, started trading under the ticker symbol IBTA in April. The company’s success depends on strong partnerships with big retailers like Kroger and Walmart.
However, the possibility of Kroger pulling out without notice was not clearly disclosed, raising serious concerns for investors.
Ibotta, Inc. (NYSE: IBTA) is a Denver-based performance marketing company founded in 2011 by Bryan Leach. It connects consumer brands with shoppers by offering cash-back rewards. Since its launch, Ibotta has credited users with over $2 billion in cash rewards. The company went public on April 18, 2024, in Colorado’s largest tech IPO, and trades under the ticker IBTA.
If you believe you were affected, don’t wait to take action. The deadline to join the class action lawsuit is June 16, 2025. Missing the deadline could mean losing your chance to recover your losses.
For more information or to see if you qualify, visit this link. You can also reach out to Joseph E. Levi, Esq. at jlevi@levikorsinsky.com or call (212) 363-7500. His team at Levi & Korsinsky has years of experience standing up for investors and can walk you through the next steps.
Levi & Korsinsky LLP is a recognized leader in securities litigation, with a track record of recovering hundreds of millions of dollars for shareholders over the past two decades. With a dedicated team of over 70 professionals, the firm specializes in complex securities cases and has been featured in ISS Securities Class Action Services’ Top 50 Report for seven consecutive years.
