RIVN SHAREHOLDER Notify: Robbins LLP Investigates Rivian Automotive, Inc. (RIVN) on Behalf of Shareholders

SAN DIEGO–(Enterprise WIRE)–The Class: Shareholder rights regulation company Robbins LLP is investigating Rivian Automotive, Inc. (NASDAQ: RIVN) and its officers and directors to decide if the Firm built phony and misleading statements in its Featuring Files in Assist of its first public presenting (“IPO”).

If you would like much more facts about our investigation into Rivian Automotive, Inc.’s misconduct, click on in this article.

What is this Investigation is About: Rivian models and manufactures electric powered cars – the R1T electrical pickup truck and R1S electric SUV. Rivian started offering the R1T in September 2021 and prepared to start selling the R1S in December 2021. As of October 31, 2021, Rivian noted “approximately 55,400 R1T and R1S preorders in the United States and Canada from prospects who compensated a cancellable and fully refundable deposit of $1,000.” At the time of its IPO, Rivian prepared to produce roughly 1,200 R1Ts and 25 R1Ss by the end of 2021, with the all preorders loaded by close of 2023.

Rivian done its IPO on November 10, 2021, promoting shares at $78.00 for every share for complete proceeds of $11.93 billion. Nonetheless, unbeknownst to investors, the Registration Assertion failed to disclose that Rivian underpriced the R1T and R1S to such a degree that the Organization would have to increase charges soon immediately after the IPO. Subsequently, these price improves would tarnish Rivian’s track record as a reputable and transparent Company and would place a substantial variety of its backlog orders as effectively as future orders in jeopardy of cancellation. Accordingly, the cost of the Company’s shares was artificially inflated at the time of the IPO. As Rivian introduced its options to boost its price ranges, its shares took a hit. Rivian stock now ow trades around $38.00 for each share, considerably under the Firm’s $78.00 IPO price.

Next Steps: If you acquired shares of Rivian Automotive, Inc. pursuant to the Firm’s IPO, you have authorized alternatives. Get in touch with us for much more info.

All representation is on a contingency price foundation. Shareholders pay back no charges or charges.

Speak to us to discover more:

Aaron Dumas

(800) 350-6003

[email protected]

Shareholder Information and facts Sort

About Robbins LLP: A identified leader in shareholder legal rights litigation, the attorneys and workers of Robbins LLP have been devoted to aiding shareholders recuperate losses, boost corporate governance structures, and maintain enterprise executives accountable for their wrongdoing given that 2002. To be notified if a course motion from Rivian Automotive, Inc. settles or to receive free alerts when corporate executives have interaction in wrongdoing, indicator up for Inventory Look at these days.

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2022 Predictions for Litigation, Investigations, and Enforcement Actions Affecting the Automotive Business | Morrison & Foerster LLP

Morrison & Foerster’s Automotive Process Drive signifies automotive sector shoppers in their most significant legal issues.

We have tapped our multidisciplinary Automotive Endeavor Force to get their viewpoints on what is probably to happen in terms of litigation, investigations, and enforcement actions in the automotive field in 2022. We hope these predictions will provoke discussions and thoughts on how to navigate the coming year.

Haima Marlier on SEC Enforcement:

The U.S. Securities and Trade Commission (SEC) under the current administration has been hyper-concentrated on two regions that specifically impact the automotive tech and transportation space: (1) the use of specific function acquisition businesses (SPACs) by startup and other corporations to go general public and (2) environmental, social, and governance (ESG) and local weather alter disclosures. SPACs have been especially lively in the auto-tech and transportation room, particularly in electrification startups. The SEC has been scrutinizing disclosures of conflicts of fascination that can come up between SPAC insiders and general public shareholders, and will technique deSPAC disclosures like standard preliminary public giving (IPO) disclosures. In December 2021, SEC was significantly active in pursuing firms operating in the automotive sphere which have absent public by way of the use of SPACs, which included subpoenaing an electric-vehicle (EV) corporation similar to profits projections and statements and entering into a US $125 million settlement with a zero emissions transportation system supplier similar to misleading statements to traders. We count on to see this enforcement development continue into 2022. Turning to ESG and weather transform disclosures, the SEC is conducting a large-scale inquiry into irrespective of whether public businesses, like in the automotive place, are next the agency’s 2010 climate improve disclosure steering, with a purpose of updating that direction primarily based on its conclusions. ESG disclosures are also an SEC assessment priority for 2022. Last but not least, as with any disclosures, the SEC will emphasis on whether or not ESG disclosures comprise materials omissions or misstatements relating to weather improve and other challenges. 

Brian Kidd on DOJ Enforcement:

With a renewed concentration on white collar and environmental crimes, the U.S. Section of Justice (DOJ), and its several legal and civil parts, will maximize its target on the automotive industry. This will contain the continuation of the kinds of instances we have viewed in the new previous, like initiatives to manipulate emissions controls and defective or faulty automotive areas. Along with individuals investigations, DOJ will possible boost its notice on the automotive industry’s part in local climate change, and aim any failure to comply with the enhanced environmental rules that the Biden administration is possible to place in place. In the EV space, this could translate into investigations into attempts to manipulate described EV ranges and other forms of “greenwashing.” DOJ’s Foreign Corrupt Practices Act (FCPA) Unit, Countrywide Security Division, and Antitrust Division will also be on the lookout for transnational bribery conditions, sanctions violations, and “no poach” agreements, as talked over down below.

James Koukios on Anti-Bribery and Corruption Chance:

When EVs will

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