Rivian To Pay $250 Million To Settle Investor Lawsuit - Rivian Automotive (NASDAQ:RIVN)

Rivian To Pay $250 Million To Settle Investor Lawsuit - Rivian Automotive (NASDAQ:RIVN)

Rivian to pay $250 million to settle 2022 securities class action lawsuit, allowing focus on R2 vehicle launch. Updates on CEO, Chinese competition.

Rivian Agrees to $250M Settlement in Shareholder Lawsuit Over IPO Price Hikes

In a move that underscores the high-stakes pressures facing electric vehicle startups, Rivian Automotive Inc. has agreed to pay $250 million to settle a class-action lawsuit brought by shareholders. The suit, filed in 2022, accused the company of misleading investors about impending price increases on its vehicles shortly after its initial public offering. Rivian, while denying any wrongdoing, stated that resolving the matter allows it to redire…

Rivian settles $250 million IPO lawsuit

On the Dash: Rivian will pay $250 million to settle investor claims over alleged IPO misrepresentation. The company is cutting more than 600 jobs to reduce costs and stabilize operations. Rivian is prioritizing the launch of its lower-cost R2 SUV as it navigates a cooling EV market. Rivian will pay $250 million to settle a 2022 class-action lawsuit accusing the electric vehicle maker of misleading investors about vehicle pricing during its 2021…