Maplebear Inc. db/a Instacart
Investors that purchased the Company’s securities and have suffered a loss, please fill in transaction information below, or email to info@portnoylaw.com.
There is no cost or obligation associated with submitting your information. If you are a shareholder who suffered a loss, please submit your contact information and purchase information to participate in the putative class action.
We also encourage you to contact Lesley F. Portnoy of The Portnoy Law Firm, at 310.692.8883, to discuss your rights free of charge. You can also reach us through the firm’s website at www.portnoylaw.com, or by email at info@portnoylaw.com.
If you choose to take no action, you can remain an absent class member.
Joining the case through the Portnoy Law website enables investors to learn about their legal claims and take an active role in recovering their losses.
The Portnoy Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
CONTACT:
Portnoy Law Firm
Lesley F. Portnoy, Esq.,
www.portnoylaw.com
Office: 310.692.8883
1800 Century Park East, Suite 600
Los Angeles, CA 90067
info@portnoylaw.com
Maplebear Inc., operating as Instacart (CART), faced a lawsuit for allegedly failing to disclose critical information to investors during its initial public offering (IPO) in September 2023. The complaint states that after the IPO, the company’s stock price dropped due to “lukewarm analyst reports” and concerns about competition from DoorDash and Uber Technologies, as well as doubts about the growth of online grocery delivery adoption. These undisclosed factors led to the stock trading below its $30.00 per share offering price, causing harm to investors.
The plaintiff claims that Instacart and its defendants did not adequately reveal three important details: 1) They overstated the acceleration of online grocery shopping and delivery among consumers, 2) They downplayed the level of competition in the online grocery market, and 3) Consequently, they exaggerated the company’s post-IPO growth, business, and financial prospects.
