NEW YORK, Oct. 03, 2023 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Instacart (Maplebear Inc.) (“Instacart” or the “Company”) (NASDAQ: CART). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether Instacart and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On or around September 19, 2023, Instacart conducted its initial public offering (“IPO”), selling 22 million shares of stock priced at $30.00 per share. After initially surging following the Company’s IPO, Instacart’s stock price declined sharply over the following weeks, with analysts predicting revenue growth of only 7% to 8% in the second half of the year, down sharply from prior periods.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980
