Company: IBTA
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001538379-25-000010
Chunk: 156

Company: Ibotta, Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 8
Chunk 156
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 of the Company's initial public offering. The Fortune complaint asserts claims for alleged violations of Sections 11, 12(a)(2), and 15 of the Securities Act of 1933, as amended (Securities Act), and generally alleges that the defendants made materially false and misleading statements regarding risks associated with the Company’s contracts with a former publisher in the registration statement and prospectus that were filed 

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Table of ContentsIbotta, Inc.Notes to Condensed Financial Statements(unaudited)

in connection with the Company’s initial public offering. The action seeks unspecified damages and other relief. On May 20, 2025, a second putative securities class action complaint, captioned Valentine v. Ibotta, Inc., et al., No. 25-cv-01615-NYW, was filed in the U.S. District Court for the District of Colorado against the same defendants. The Valentine complaint asserts claims for alleged violations of Sections 11, 12(a)(2), and 15 of the Securities Act and alleged violations of Sections 10(b), 20(a), and 20A of the Exchange Act, as well as SEC Rule 10b-5 promulgated thereunder. The putative class period for the Exchange Act claims is April 18, 2024 to February 26, 2025, inclusive. The Valentine complaint generally alleges that the defendants made materially false and misleading statements regarding the Company’s data measurement tools, its D2C platform, and its clients’ budgets in the registration statement and prospectus that were filed in connection with the Company’s initial public offering and in public statements subsequent to the initial public offering. The action seeks unspecified damages and other relief. On July 31, 2025, the court consolidated the two cases and appointed a lead plaintiff, purported Ibotta shareholder Mark Tcherkezian, in the consolidated action. The defendants’ deadlines to respond to the complaints are currently stayed. We intend to defend the case vigorously. We are unable to estimate a range of loss, if any, that could result were there to be an adverse final outcome in this action. If an unfavorable outcome were to occur, it is possible that the impact could be material to our results of operations in the period(s) in which any such outcome becomes probable and estimable.Additionally, in the ordinary course of its business, the Company may be involved in various legal proceedings involving contractual and employment relationships, patent or other intellectual property rights, and a variety of other matters. The