Levi & Korsinsky, LLP announces that a RIVN class action lawsuit has been filed on behalf of investors who purchased Rivian Automotive, Inc. (RIVN) This lawsuit is on behalf of investors that purchased or otherwise acquired Rivian common stock pursuant and/or traceable to Rivian’s Initial Public Offering on November 10, 2021. For more on the RIVN Lawsuit please contact us today.
According to the Rivian Automotive lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: The Registration Statement (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 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.
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Fax: (212) 363-7171