Instacart falls after co to pay $60 mln to settle FTC claims it deceived shoppers

Shares of online grocery delivery platform Instacart CART.O fall about 1.4% to $45.02

Instacart agrees to pay $60 million to settle the FTC's allegations of misleading consumers about Instacart+ membership benefits and free delivery offers, as per court filings

FTC alleges Instacart misled consumers on fees and memberships, failing to disclose auto-renewal of Instacart+ trials, and giving unclear refund policies

CART settles without admitting to the allegations

The FTC is also probing CART's AI pricing tool Eversight, two sources familiar with the matter told Reuters on Wednesday

Eversight faced criticism after a study found shoppers were charged varying prices for the same groceries

CART says retailers are responsible for setting prices, pricing tests run through Eversight are random and not based on user data

Up to last close, stock up 10.21% YTD