The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Central District of California on behalf of investors who purchased Rivian Automotive, Inc. (NASDAQ: RIVN) common stock pursuant and/or traceable to Rivian’s initial public offering on November 10, 2021 and/or between November 10, 2021, and March 10, 2022.
According to the Rivian Automotive, Inc. lawsuit, documents issued in connection with the initial public offering contained representations that were materially inaccurate, misleading, and/or incomplete because they failed to disclose, among other things, that the R1T electric pickup truck and R1S electric SUV were underpriced to such a degree that Rivian would have to raise prices shortly after the IPO and that these price increases would tarnish Rivian’s reputation as a trustworthy and transparent company and would put a significant number of the existing backlog of 55,400 preorders, along with future preorders, in jeopardy of cancellation.
If you suffered a loss in Rivian Automotive, Inc. you have until May 6, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
To receive more information, please fill out the form.