Bronstein, Goertz & Grossman LLC

Bronstein, Goertz & Grossman LLC

NEW YORK, Feb. 08, 2024 (GLOBE NEWSWIRE) — Lawyer Announcement – Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against Instacart (Maplebear Inc.) (“Instacart” or “ Company”) (NASDAQ: CART) and certain of its officers.

Category definition:

This lawsuit seeks to recover damages against the defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Instacart securities: (1) pursuant to the registration statement and prospectus issued in connection with the company’s September 19, public offering; 2023 Initial Initial Report (“IPO”); or (ii) between September 19, 2023 and October 1, 2023, both dates inclusive (the “Class Period”). These investors are encouraged to join this case by visiting the company’s website: bgandg.com/CART.

Case details:

The complaint alleges that the prospectuses were negligently prepared and, as a result, contained untrue statements of material facts or omitted to state other facts necessary to make the statements not misleading and were not prepared in accordance with the rules and regulations governing their preparation.

Additionally, the complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and future prospects. Specifically, the Underwriting Documents and Defendants made false and/or misleading statements and/or failed to disclose that:

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

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

(3) accordingly, Instacart overstated its growth, business, and financial prospects following the IPO; And

(4) As a result, Instacart’s public statements were materially false and misleading at all relevant times.

As of the time of the complaint, Instacart common stock continues to trade at less than $30.00 per share, harming investors.

What then?

A class action lawsuit has already been filed. If you would like to review a copy of the complaint, you may visit the firm’s website: bgandg.com/CART or you may contact Peretz Bronstein, Esq. Or our law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 332-239-2660. If you suffer a loss in Instacart, you have until March 25, 2024 to ask the court to appoint you as lead plaintiff. Your ability to participate in any recovery does not require that you serve as lead plaintiff.

There is no cost to you

We represent investors in class actions on a contingency fee basis. This means that we will ask the court to reimburse us for out-of-pocket expenses and attorney fees, usually a percentage of the total recovery, only if we are successful.

Why Bronstein, Goertz and Grossman:

Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud and shareholder derivative litigation. Our firm has recovered hundreds of millions of dollars for investors nationwide.

Lawyer advertisement. Previous results do not guarantee similar results.

communication:

Bronstein, Goertz & Grossman, LLC

Peretz Bronstein or Yael Nathanson

332-239-2660 | info@bgandg.com

    (Tags for translation)Bronstein

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