Ibotta, Inc. (IBTA) Securities Class Action Lawsuit: 1933 Act Violations Alleged

Shamis & Gentile P.A., one of the nation's premier class action law firms specializing in securities fraud cases, is investigating potential claims against Ibotta, Inc. (IBTA).

If you purchased or held Ibotta, Inc. securities between April 18, 2024 and April 17, 2025, you may be eligible to join this class action lawsuit and seek compensation for your losses.

About Ibotta, Inc.

Ibotta, Inc. is a Denver-based technology company that operates a performance marketing platform. The company connects consumer packaged goods (CPG) brands with consumers through digital promotions, using its Ibotta Performance Network (IPN). Since its founding in 2011, Ibotta has credited American consumers with over $1.5 billion in cash rewards through its network.

Ibotta partners with a variety of retailers and publishers to distribute offers, including major names like Walmart, Dollar General, Shell, Exxon, and Kroger. The company went public on April 18, 2024, listing its shares on the New York Stock Exchange under the ticker symbol IBTA.

With nearly 1,000 employees and a history of rapid growth, Ibotta has positioned itself as a significant player in the digital promotions and performance marketing industry.

The Allegations

The securities class action lawsuit alleges that Ibotta, Inc., certain executives, directors, and IPO underwriters violated the Securities Act of 1933 by making materially false and/or misleading statements in the registration statement and prospectus for its initial public offering (IPO). Specifically, the complaint claims that Ibotta failed to disclose the at-will nature of its contract with The Kroger Co.—one of its major clients—and the risk that Kroger could cancel its contract at any time without warning.

While the IPO documents provided detailed disclosures about the terms of Ibotta’s contract with Walmart, they did not contain similar transparency about the Kroger relationship. Instead, the company allegedly only included generic warnings about the importance of client relationships, omitting the specific risk tied to Kroger. Furthermore, after the IPO, Ibotta’s Q2 2024 10-Q filing did not mention Kroger as a client, even though Kroger was listed as a client in the registration statement.

Since the IPO, Ibotta’s stock has traded significantly below its initial offering price of $88.00 per share. The complaint, filed on April 17, 2025, alleges that investors suffered substantial losses as a result of these omissions and misrepresentations.

Important Dates

• Class period: April 18, 2024 to April 17, 2025
• Lead plaintiff deadline: June 16, 2025
• Complaint filed: April 17, 2025

Your Rights and Next Steps

If you purchased or acquired Ibotta, Inc. securities during the class period, you have important legal rights. You may be eligible to join the class action lawsuit as a class member. The lead plaintiff, who is typically the investor with the largest financial interest in the case, will represent all class members and work with lawyers to direct the litigation. If you wish to be considered for the lead plaintiff role, you must file a motion with the court by June 16, 2025.

Even if you do not become the lead plaintiff, you can still participate in any potential recovery if the lawsuit is successful. There is no cost or obligation to join, and lawyers are ready to help answer your questions and guide you through the process.

You May Be Entitled to Compensation

If you suffered financial losses as a result of purchasing Ibotta, Inc. securities during the class period, you may be entitled to compensation. To learn more and to join the lawsuit, complete the below form. Lawyers are ready to help review your claim and discuss your options.