RIVN SHAREHOLDER ALERT: Robbins LLP is investigating Rivian Automotive, Inc. (RIVN) on behalf of shareholders
SAN DIEGO–(BUSINESS WIRE)–The class: Law firm in shareholder law Robbins LLP is investigating Rivian Automotive, Inc. (NASDAQ: RIVN) and its officers and directors to determine whether the company made false and misleading statements in its offering documents in support of its initial public offering (“IPO”).
If you would like more information about our investigation into the misconduct of Rivian Automotive, Inc., click here.
What this survey is about: Rivian designs and manufactures electric vehicles – the R1T electric pickup truck and the R1S electric SUV. Rivian began selling the R1T in September 2021 and planned to begin selling the R1S in December 2021. have paid a cancellable and fully refundable $1,000 deposit.” At the time of its IPO, Rivian planned to produce around 1,200 R1Ts and 25 R1S by the end of 2021, with all pre-orders filled by the end of 2023.
Rivian completed its IPO on November 10, 2021, selling shares at $78.00 per share for total proceeds of $11.93 billion. However, unbeknownst to investors, the registration statement did not reveal that Rivian had undervalued R1T and R1S to such an extent that the company is expected to raise prices soon after the IPO. . Subsequently, these price increases would tarnish Rivian’s reputation as a reliable and transparent company and put a significant number of its pending orders as well as future orders at risk of cancellation. Consequently, the price of the Company’s shares was artificially inflated at the time of the IPO. When Rivian announced plans to raise prices, its shares took a hit. Rivian shares are now trading at nearly $38.00 per share, significantly below the company’s $78.00 IPO price.
Next steps: If you acquired Rivian Automotive, Inc. stock as part of the company’s IPO, you have legal options. Contact us for more information.
All representation is done on a contingent fee basis. Shareholders do not pay any fees or expenses.
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