RIVN LAWSUIT FILED: Jakubowitz Law Pursues Claims on Behalf of RIVIAN AUTOMOTIVE, INC. Shareholders
New York, New York--(Newsfile Corp. - May 4, 2022) - Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Rivian Automotive, Inc. (NASDAQ: RIVN).
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This lawsuit is on behalf of investors that purchased or otherwise acquired Rivian common stock pursuant and/or traceable to Rivian's initial public offering on November 10, 2021 and/or between November 10, 2021, and March 10, 2022.
Shareholders interested in representing the class of wronged shareholders have until May 6, 2022 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Documents issued in connection with the initial public offering contained representations that were materially inaccurate, misleading, and/or incomplete because they failed to disclose, among other things, that the R1T electric pickup truck and R1S electric SUV were underpriced to such a degree that Rivian would have to raise prices shortly after the IPO and that these price increases would tarnish Rivian's reputation as a trustworthy and transparent company and would put a significant number of the existing backlog of 55,400 preorders, along with future preorders, in jeopardy of cancellation.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
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