CLAIMSFILER REMINDS INVESTORS WITH LOSSES OVER $100,000 of lead plaintiff’s deadline in class action lawsuit against Rivian Automotive, Inc. – RIVN
NEW ORLEANS, March 11, 2022 /PRNewswire/ — ClaimsFiler, a FREE shareholder information service, reminds investors that they have until May 6, 2022 to file lead plaintiff claims in a securities class action lawsuit against Rivian Automotive, Inc. (NasdaqGS: RIVN), whether they purchased or otherwise acquired the company’s stock pursuant to its November 2021 initial public offering (the “IPO”). This action is in progress in United States District Court of the Central District of California.
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Rivian investors should visit us at https://claimsfiler.com/cases/nasdaq-rivn/ or call toll-free (844) 367-9658. Kahn Swick & Foti, LLC attorneys are available to discuss your legal options.
About the trial
Rivian and certain of its executives are accused of failing to disclose material information in its IPO registration statement, in violation of federal securities laws.
The alleged false and misleading statements and omissions include, but are not limited to, that the Company’s R1T Electric Pickup Truck and R1S Electric SUV products were underpriced to such an extent that the Company should raise prices shortly after the IPO, which could tarnish its reputation as a reliable and transparent company and potentially jeopardize sales of the existing backlog of 55,400 pre-orders as well as future pre-orders. As a result, the price of the Company’s shares was artificially and materially inflated at the time of the Offer.
The deal is Crews, Jr. v. Rivian Automotive Inc., et al., No. 22-cv-1524.
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ClaimsFiler has one mission: to serve as a source of information to help retail investors recoup their share of billions of dollars from securities class action settlements. At ClaimsFiler.com, investors can: (1) register for free access to information and settlement websites for various securities class action cases so that they can submit their own claims in a timely manner; (2) upload transactional data from their portfolio to be informed of relevant securities matters in which they may have a financial interest; and (3) submit inquiries to the law firm Kahn Swick & Foti, LLC for free case evaluations.
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