NEW YORK, March 18, 2025 (GLOBE NEWSWIRE) — Leading securities law firm Bleichmar Fonti & Auld LLP announces an investigation into Ibotta, Inc. (NYSE: IBTA) for potential violations of the federal securities laws.
If you invested in Ibotta, you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases-investigations/ibotta-inc.
Why is Ibotta being Investigated?
Ibotta offers a cashback rewards and digital promotions platform that helps consumer packaged goods (CPG) brands promote their products to consumers. During the relevant period, Ibotta stated that CPG brands increased their spending on the platform, thus increasing the supply of promotions available to consumers. The company also described how its platform provided CPG brands with valuable consumer purchase data that generated high returns on investment (ROI) for the brands.
In truth, CPG brands’ spending, and the supply of promotional offers available to consumers, was constrained. What’s more, Ibotta failed to provide CPG brands with sufficient information to adequately measure their ROI on campaigns on the company’s platform.
The Stock Declines as the Truth is Revealed
On February 26, 2025, after market hours, Ibotta reported disappointing Q4 2024 financial results, announcing that the amount of redemptions per redeemer declined 20% year over year. During the same-day earnings call, the company admitted that it has failed to “secure[] enough offer supply from CPG brands” relative to the growth in consumers and that it failed to provide a sufficient “level of rigor” to allow CPG brands to measure the ROI of their campaigns. On this news, the price of Ibotta stock fell $29.08 per share, or over 46%, from $63.09 per share on February 26, 2025, to $34.01 per share on February 27, 2025.
Click here for more information:
https://www.bfalaw.com/cases-investigations/ibotta-inc
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What Can You Do?
If you invested in Ibotta you may have legal options and are encouraged to submit your information to the firm.
All representation is on a contingency fee basis, there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses.
Submit your information by visiting:
https://www.bfalaw.com/cases-investigations/ibotta-inc
Or contact:
Ross Shikowitz
[email protected]
212-789-3619
Why Bleichmar Fonti & Auld LLP?
Bleichmar Fonti & Auld LLP is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It was named among the Top 5 plaintiff law firms by ISS SCAS in 2023 and its attorneys have been named Titans of the Plaintiffs’ Bar by Law360 and SuperLawyers by Thompson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.’s Board of Directors, as well as $420 million from Teva Pharmaceutical Ind. Ltd.
For more information about BFA and its attorneys, please visit https://www.bfalaw.com.
https://www.bfalaw.com/cases-investigations/ibotta-inc
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