DoorDash shares surged more than 6% in morning trading

DoorDash shares surged more than 6% in morning trading as Bank of America upgraded DoorDash to a buy rating.The firm’s bullish call is based on upside to 2021 estimates as well as a “robust” five-year growth opportunity.

Food delivery company DoorDash has filed yet another lawsuit against New York City,calling a new law requiring delivery companies to share customer data with restaurants “a shocking and invasive intrusion of consumers’ privacy.”

Under the law approved in July, third-party food delivery services in the city would have to share customers’ names, phone numbers, emails, and delivery addresses with a restaurant that fulfills a DoorDash order, unless the customer opts out. In its complaint, DoorDash argues that customers entrust DoorDash with sensitive data, “that they would not entrust to small businesses that do not have similar robust data safety and security protocol.”

The company added that in-person diners don’t typically expect to disclose sensitive personal information to restaurants. “Moreover, the Ordinance’s presumption that every customer consents to sharing their personal data—unless they specifically opt out on a per-order basis—flies in the face of prevailing privacy best practices,” the lawsuit states. And there are no guarantees that restaurants would be able to store customer data in a way that both complies with privacy laws and prevents unauthorized access, DoorDash argues.