EQS-News: ROSEN, NATIONAL TRIAL LAWYERS, Encourages Maplebear Inc. (d/b/a Instacart) Investors to Secure Counsel Before Important Deadline in Securities Class Action - CART

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants made materially false and misleading statements regarding Instacart’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 Instacart’s post-IPO growth, business, and financial prospects; and (4) as a result, Instacart’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.