The Gross Law Firm notifies investors that a class action has commenced in the United States District Court for the Northern District of California on behalf of shareholders of Maplebear Inc. d/b/a Instacart who purchased (a) Instacart common stock pursuant and/or traceable to offering documents issued in connection with the Company’s initial public offering conducted on or about September 19, 2023; and/or (b) Instacart securities between September 19, 2023 and October 1, 2023, both dates inclusive.
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) Instacart had overstated the extent to which online grocery shopping and delivery habits among consumers were accelerating; (ii) Instacart had downplayed the extent of the competition that it faced in the online grocery shopping and delivery market; (iii) accordingly, defendants overstated the Company’s post-initial public offering growth, business, and financial prospects; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until March 25, 2024 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.