The lawsuit, filed in the United States District Court for the Southern District of New York, claims that Via’s registration statement and prospectus contained materially misleading information. According to the complaint, the company allegedly concealed that it was acquiring customers at a rate that outpaced revenue generation. This imbalance reportedly triggered the first decline in annual recurring revenue per customer in eight quarters.
Beyond revenue concerns, the litigation highlights regulatory friction in Germany. While microtransit adoption in the region was growing, the company reportedly lacked the ability to sell its full platform, a limitation that was not disclosed to shareholders at the time of the IPO. By the time the legal action commenced, Via’s share price had fallen to $14.52, marking a sharp decline from its initial offering price. Investors seeking to participate in the litigation against the firm, titled Garlesky v. Via Transportation, Inc., may contact Kahn Swick & Foti, LLC to discuss potential recovery options.
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