Summary
Instacart has settled charges from the U.S. Federal Trade Commission (FTC) by agreeing to pay $60 million in refunds. The FTC accused Instacart of misleading customers about its free delivery offers and subscription service terms. The company denies any wrongdoing but agreed to the settlement to move forward.
Key Facts
- Instacart will pay $60 million in refunds to settle FTC allegations.
- The FTC claims Instacart misled shoppers about free delivery offers and subscription terms.
- Court documents were filed in San Francisco.
- Instacart denies the allegations but chose to settle.
- The FTC is also investigating Instacart's pricing practices involving its Eversight tool.
- A study indicated price discrepancies for the same items at the same stores.
- Concerns were raised about the use of AI to adjust prices possibly leading to higher costs.
- Instacart's stock fell by 1.5% following the news of the settlement.
