SAN DIEGO, Aug. 19, 2024 /PRNewswire/ — Shareholder rights law firm Johnson Fistel, LLP is investigating whether Ibotta, Inc. (NYSE: IBTA)—headquartered in Denver, Colorado—or any of its executive officers or others violated securities laws by misrepresenting or failing to timely disclose material, adverse information to investors.
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For more information, contact Jim Baker at [email protected] or (619) 814-4471
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What is Johnson Fistel investigating? On August 13, 2024, Ibotta disclosed its financial results for the second quarter, revealing a net loss of $34.0 million, which constitutes 39% of its revenue for the period. The company reported a 19% decline in direct-to-consumer redemptions on a year-over-year basis, accompanied by a 7% reduction in the number of direct-to-consumer redeemers. Furthermore, the total number of redemptions per redeemer exhibited a notable year-over-year decrease of 39%. Additionally, the revenue generated per redemption exhibited a year-over-year decline of 19%.
Specifically, Johnson Fistel’s investigation seeks to determine whether the Company’s filings with the U.S. Securities and Exchange Commission in connection with its April 2024 IPO and subsequent investor communications contained untrue statements of material facts or omitted to state other facts necessary to make the statements made therein not misleading concerning the Company’s business, and operations.
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Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia, and Colorado. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com.
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James Baker, Investor Relations or Frank J. Johnson, Esq., (619) 814-4471
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