Rivian Reaches Settlement in Lawsuit Over R1 Price Hike
Rivian has agreed to pay $250 million to settle a class-action shareholder lawsuit.
The lawsuit, filed in 2022, centered on Rivian's decision to increase prices on the R1 lineup, which led to a decline in stock price.
Rivian "denies the allegations in the suit and maintains that this agreement to settle is not an admission of fault or wrongdoing."
The lawsuit alleged that Rivian made misleading statements in regulatory filings prior to its 2021 IPO regarding the costs of building R1 EVs.
The payment is subject to approval by a judge in the U.S. District Court for the Central District of California.
Author's summary: Rivian settles lawsuit for $250M.
More News
- WEATHER: Potent wind storm causes outages, tree damage in Burien and south King County - The B-Town (Burien) Blog
- B.C. General Employees’ Union strike ends with tentative deal
- Russia in a Whirlpool of Repressions: Regime Consumes Itself
- 5 principles for our once-in-a-generation reset on inclusion
- Online media: Georgia’s last bastion for democracy in a deeply polarized society?
- LETTER TO THE EDITOR: 'DESC is not a positive addition to Burien' - The B-Town (Burien) Blog
- Guillermo Del Toro Would “Rather Die” Than Use Generative AI: “I Am Not Interested”
- Kamala Harris Floats Idea To Run For President Again; Says She’s “Not Done” With Politics: “It’s In My Bones”
- Newsom Vs. Trump 2028: California Governor To Decide On White House Bid After Midterms; Says Trump Presidency Over If Democrats Win In 2026
- Virginia Dems Call For Special Session That Would Take Winsome Earle-Sears Off The Campaign Trail