RIVN Investors Have Opportunity to Lead Rivian Automotive, Inc. Securities Fraud Lawsuit

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Jun 24, 2024, 13:00 ET

NEW YORK, June 24, 2024 /PRNewswire/ --

Why: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Rivian Automotive, Inc. (NASDAQ: RIVN) between August 12, 2022 and February 21, 2024, both dates inclusive (the "Class Period"), of the important July 30, 2024 lead plaintiff deadline.

So what: If you purchased Rivian securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

What to do next: To join the Rivian class action, go to https://rosenlegal.com/submit-form/?case_id=3880 mailto:or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than July 30, 2024. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

Details of the case: According to the lawsuit, defendants made false and/or misleading statements and/or failed to disclose that: (1) Rivian had overstated demand for its electric vehicles ("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 Rivian's anticipated earnings and vehicle production targets for 2024; and (6) as a result, Rivian's public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Rivian class action, go to https://rosenlegal.com/submit-form/?case_id=3880 mailto:or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

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Contact Information:

      Laurence Rosen, Esq.
      Phillip Kim, Esq.
      The Rosen Law Firm, P.A.
      275 Madison Avenue, 40th Floor
      New York, NY 10016
      Tel: (212) 686-1060
      Toll Free: (866) 767-3653
      Fax: (212) 202-3827
      [email protected]
      www.rosenlegal.com

SOURCE THE ROSEN LAW FIRM, P. A.