The firm says investors who bought Via Transportation shares in or traceable to its September 15, 2025 IPO can seek lead plaintiff status in a Securities Act case by August 10, 2026.
Robbins Geller Rudman & Dowd LLP said investors who purchased or acquired Via Transportation, Inc. common stock pursuant and/or traceable to the company's September 15, 2025 initial public offering have until August 10, 2026 to seek appointment as lead plaintiff in a securities class action pending in the Southern District of New York. The case, captioned Garlesky v. Via Transportation, Inc., No. 26-cv-04870, alleges that Via, certain executives and directors, and the IPO's underwriters violated the Securities Act of 1933 by issuing offering documents that were materially false or misleading. The complaint alleges Via was adding customers faster than those customers were generating revenue, driving a decline in Platform Annual Run-Rate Revenue per customer, and that regulatory issues in Germany were hindering the company's "land and expand" strategy. Via sold 10,714,285 shares in its IPO at $46.00 each. The complaint links the alleged corrective disclosures to three later earnings reports: a November 13, 2025 update that allegedly showed Platform Annual Run-Rate Revenue per customer had declined for the first time in eight quarters, after which the stock fell nearly 13%; a February 27, 2026 report saying Via was "facing some headwinds . . . in Germany" and unable to sell its entire platform there, followed by a nearly 8% drop; and a May 12, 2026 first-quarter update saying regulatory issues continued to limit growth in Germany, after which the stock fell another 17% and closed nearly 70% below the IPO price. Under the Private Securities Litigation Reform Act, the lead plaintiff is typically the investor with the largest financial interest who also adequately represents the class, though investors need not serve in that role to share in any potential recovery.