NEW YORK, NY / ACCESSWIRE / August 28, 2024 / Pomerantz LLP is investigating claims on behalf of investors of Ibotta, Inc. ("Ibotta" or the "Company") (NYSE:IBTA). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether Ibotta and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On or around April 13, 2024, Ibotta conducted its initial public offering ("IPO") of 6.6 million shares priced at $88.00 per share.
Then, on August 13, 2024, Ibotta issued a press release reporting its financial results for the second quarter of 2024. Among other items, Ibotta reported a net loss of $34.0 million, hurt by operating expenses that more than doubled year-over-year. The Company also provided a third quarter revenue forecast in the range of $91 million to $96 million, below consensus estimates.
On this news, Ibotta's stock price fell sharply during intraday trading on August 14, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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SOURCE: Pomerantz LLP