RIVIAN DEADLINE ALERT: Bragar Eagel & Squire, P.C. Reminds Investors that a Class Action Lawsuit Has Been Filed Against Rivian Automotive, Inc. and Encourages
NEW YORK–(Organization WIRE)–#Motion–Bragar Eagel & Squire, P.C., a nationally acknowledged stockholder rights regulation firm, reminds traders that a course motion lawsuit has been filed versus Rivian Automotive, Inc. (“Rivian” or the “Company”) (NASDAQ: RIVN) in the United States District Court for the Central District of California on behalf of all folks and entities who purchased or usually obtained Rivian securities pursuant and/or traceable to the November 10, 2021 IPO. Investors have until finally May possibly 6, 2022 to apply to the Court to be appointed as guide plaintiff in the lawsuit.
Simply click listed here to participate in the action.
Rivian is an electric powered car firm that in 2018 unveiled its very first buyer EV’s, the R1T electric pickup truck, and the R1S electric powered SUV.
On November 10, 2021, Rivian made available 153 million shares to the public by an IPO at a value of $78.00 for each share for complete proceeds of $11.93 billion.
According to the Registration Assertion, the “R1T and R1S introduce our manufacturer to the entire world and will provide as our flagship cars as we carry on to increase our offerings.”
Rivian’s focus on its track record for transparency and devotion to its clients, together with Rivian’s R1T and R1S, such as the massive amount of preorders and prospective for enhanced demand were essential marketing factors to IPO buyers.
Unbeknownst to traders, nonetheless, the Registration Statement’s representations had been materially inaccurate, deceptive, and/or incomplete mainly because they failed to disclose, among other items, that the R1T and R1S have been underpriced to these kinds of a degree that Rivian would have to raise selling prices shortly after the IPO and that these rate boosts would tarnish Rivian’s standing as a trusted and clear enterprise and would put a significant number of the present backlog of 55,400 preorders along with long term preorders in jeopardy of cancellation.
As a consequence, the value of the Company’s shares was artificially and materially inflated at the time of the Supplying.
If you acquired or if not obtained Rivian shares and experienced a loss, are a extensive-expression stockholder, have facts, would like to discover a lot more about these statements, or have any inquiries concerning this announcement or your rights or passions with regard to these matters, you should get hold of Brandon Walker or Alexandra Raymond by electronic mail at [email protected], telephone at (212) 355-4648, or by filling out this call sort. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally identified law business with workplaces in New York, California, and South Carolina. The business signifies unique and institutional traders in business, securities, derivative, and other advanced litigation in state and federal courts throughout the nation. For far more information and facts about the firm, please visit www.bespc.com. Attorney advertising and marketing. Prior effects do not warranty identical outcomes.
Contacts
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Alexandra B. Raymond, Esq.
(212) 355-4648
