- Ibotta, Inc. is accused of not disclosing significant risks related to its contract with The Kroger Co. in its IPO filings.
- Levi & Korsinsky is representing investors who have suffered losses, with a deadline for action set for June 16, 2025.
- Significant shareholder Clark Jermoluk Founders Fund I LLC sold 18,543 shares at a price slightly above the current stock value.
Ibotta, Inc. (NYSE:IBTA) is facing legal challenges following its initial public offering (IPO) on April 18, 2024. The company, known for its cash-back rewards platform, is accused of making false statements and not adequately informing investors about the risks tied to its contract with The Kroger Co. This contract was at-will, allowing Kroger to terminate it without notice, a significant risk that was not disclosed to investors, leading to potential financial losses for shareholders.
Levi & Korsinsky, a well-regarded securities litigation firm, is representing the affected investors. The firm has a history of securing substantial settlements for shareholders in similar cases. Investors who have experienced losses in Ibotta stock, even if they still hold their shares, are encouraged to contact the firm to explore recovery options. The deadline for action is June 16, 2025.
On May 29, 2025, Clark Jermoluk Founders Fund I LLC, a significant shareholder with a 10 percent stake in IBTA, sold 18,543 shares of Class A Common Stock at approximately $50.13 each. This transaction reduced the fund’s holdings to 544,638 shares. The sale price was slightly above the current IBTA stock price of $49.30, which has decreased by 1.38% or $0.69.
IBTA’s stock has shown volatility, with today’s price fluctuating between $47.51 and $49.64. Over the past year, the stock has seen a high of $97.69 and a low of $31.40. The company’s market capitalization stands at approximately $1.25 billion, indicating its size in the market. Today’s trading volume for IBTA is 136,136 shares, reflecting investor activity amid the ongoing legal situation.
