(RIVN) DEADLINE for shareholders: have you suffered a substantial loss? Contact Johnson Fistel About Rivian Class Action
New York, New York–(Newsfile Corp. – March 10, 2022) – Shareholder rights law firm Johnson Fistel, LLP (www.JohnsonFistel.com) announces that a class action lawsuit has been filed on behalf of investors from Rivian Automotive, Inc. (NASDAQ:RIVN). The lawsuit is currently on behalf of a potential class of Rivian investors who have purchased or acquired common stock of Rivian pursuant to or traceable to Rivian’s initial public offering (“IPO”) on November 10, 2021.
What actions can I take at this time? If you purchased or otherwise acquired Cabaletta securities during the Class Period, you have until May 6, 2022, to seek appointment as lead plaintiff in the action. A lead plaintiff will act on behalf of all other class members to conduct the trial, including overseeing any case settlement.
If you suffered significant losses on your purchases during the Class Period, contact Johnson Fistel, LLP now to participate:
There is no cost or obligation for you.
What are the allegations in the complaint? Rivian is an electric vehicle company that in 2018 unveiled its first consumer electric vehicles, the R1T electric pickup truck and the R1S electric SUV. On November 10, 2021, Rivian offered 153 million shares to the public through an IPO at $78.00 per share for total proceeds of $11.93 billion.
The Complaint alleges that the statements in the Registration Statement were materially inaccurate, misleading and/or incomplete because they failed to disclose, among other things, that the R1T and R1S were undervalued to such a degree that Rivian is expected to rise in price soon after the IPO. and that these price increases would tarnish Rivian’s reputation as a reliable and transparent company and put a significant number of the existing backlog of 55,400 pre-orders as well as future pre-orders at risk of cancellation. As a result, the price of the Company’s shares was artificially and materially inflated at the time of the Offer.
What if I have information relevant to the case? Individuals with nonpublic information regarding Cabaletta should consider participating in our investigation or taking advantage of the SEC’s Whistleblower Program. Under the SEC’s program, whistleblowers who provide original information may, under certain circumstances, receive rewards totaling up to thirty percent of any successful recovery made by the SEC. For more information, contact Jim Baker at (619) 814-4471 or [email protected]
About Johnson Fistel, LLP. Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in securities class actions and derivatives lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Lawyer advertisement. Past results do not guarantee future results.
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Johnson Fistel, LLP
Jim Baker, Senior Securities Analyst
Phone: (619) 814-4471
Email: [email protected]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/116359