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Stock impact report

Instacart to pay $60M in settlement of FTC lawsuit [Yahoo! Finance]

Maplebear Inc. (CART) 
US:NASDAQ Investor Relations: snl.com/irw/corporateprofile/4715924
Company Research Source: Yahoo! Finance
Instacart will pay $60 million in consumer refunds as part of a settlement in a lawsuit brought by the Federal Trade Commission, the agency announced Thursday. The FTC alleged in the complaint , filed Thursday in the U.S. District Court for the Northern District of California, that Instacart engaged in deceptive practices that misled consumers on fees for its delivery promotion, made it difficult to initiate refund requests and did not fully disclose Instacart+ membership trial terms. “Rather than truthfully advertising the cost of its delivery services, Instacart forced consumers to invest their valuable time and energy — in many cases exceeding 30 minutes — so that it could coerce them into paying hidden fees,” the FTC said in the complaint. The FTC claimed that Instacart has brought in millions of dollars through deceptive practices. The FTC alleged that Instacart's “free delivery promotions for first-time customers” are deceptive because, although the delivery fee is waiv Show less Read more
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