Maplebear, Inc. (d/b/a Instacart)

Ticker: CART

Class Period Start: 09/19/2023

Class Period End: 10/01/2023

Registration Deadline: 03/25/2024

A securities class action has been filed in the USDC – N.D.CA. against Maplebear, Inc. (d/b/a Instacart) (CART) (“Instacart” or the “Company”), on behalf of all persons and entities that purchased or otherwise acquired: (a) Maplebear Inc. d/b/a Instacart (“Instacart” or the “Company”) common stock pursuant and/or traceable to the Prospectus and collectively with the Registration Statement (the “Offering Documents”) issued in connection with the Company’s initial public offering conducted on or about September 19, 2023 (the “IPO” or “Offering”) and/or (b) Instacart securities between September 19, 2023 and October 1, 2023, both dates inclusive (the “Class Period”).

 

Instacart provides online grocery shopping services to households in North America. The Company sells and delivers a range of products in the food, alcohol, consumer health, pet care, and readymade meals categories, in addition to others. The Company offers its services through a mobile application and website, while also providing software-as-a-service solutions to retailers.

 

The complaint alleges that the Offering Documents were negligently prepared and, as a result, contained untrue statements of material fact or omitted to state other facts necessary to make the statements made not misleading and were not prepared in accordance with the rules and regulations governing their preparation. In addition, the complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and prospects. Specifically, the Offering Documents and Defendants made false and/or misleading statements and/or failed to disclose that:

 

(1) Instacart had overstated the extent to which online grocery shopping and delivery habits among consumers were accelerating;

(2) Instacart had downplayed the extent of the competition that it faced in the online grocery shopping and delivery market;

(3) accordingly, Defendants overstated the Company’s post-IPO growth, business, and financial prospects; and

(4) as a result, the Company’s public statements were materially false and misleading at all relevant times, thereby harming investors.

 

If you purchased Instacart securities during the Class Period and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.

 

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