The lawsuit, Garlesky v. Via Transportation, Inc., alleges that the company’s registration statement and prospectus contained misleading information regarding its financial health. According to the complaint, Via experienced a decline in annual recurring revenue per customer for the first time in eight quarters, as new customer acquisition costs outpaced revenue generation. Furthermore, the company faced significant regulatory hurdles in Germany, where it was unable to deploy its full platform despite market adoption of microtransit services.

Since the IPO, shares of Via have fallen approximately 70% from their offering price, recently trading as low as $14.52. Kahn Swick & Foti, LLC, the firm representing the plaintiffs, is inviting investors impacted by these losses to review their legal rights. Managing Partner Lewis Kahn is overseeing the outreach for those seeking to participate in the litigation before the court-mandated deadline.