Rivian Automotive, Inc.

Registration Deadline:

07/30/2024

Submit Your Information

A securities class action has been filed in the USDC — N.D.CA. against Rivian Automotive (RIVN) (“Intel” or the “Company”), on behalf of all persons or entities that purchased or otherwise acquired Rivian securities between August 12, 2022 and February 21, 2024, both dates inclusive (the “Class Period”).

 

Rivian, headquartered in Irvine, California, is an automotive manufacturer that develops and builds electric vehicles (“EVs”) for both retail and commercial customers. The Company was founded in 2009 and went public in November 2021 through its initial public offering. Since its inception, Rivian has never turned a profit.

 

The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that:

(1) Rivian had overstated demand for its EVs;

(2) Rivian had concealed the negative effect inflation and higher interest rates were having on demand for its EVs;

(3) the number of orders in Rivian’s order bank had decreased due to cancellations and other factors;

(4) Rivian was failing to ramp up its production of EVs at the rate it claimed;

(5) all the foregoing was likely to, and did, negatively impact the Company’s anticipated earnings and vehicle production targets for 2024; and

(6) as a result, the Company’s public statements were materially false and misleading at all relevant times, thereby harming investors.

 

 

If you purchased Rivian securities during the class period and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.

 

About Lowey Dannenberg

Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.

If you suffered a loss on your investments or would like to inquire about joining an action to recover your loss under the federal securities laws, please complete the form below.

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