Securities,
Class Action
Dec. 6, 2023
Rivian shareholders say they met requirements for class
A consolidated complaint against Rivian, which counts Amazon among its investors, was filed last July, alleging that the electric vehicle maker intentionally underpriced its R1S SUV and R1T pickup trucks before going public.
Attorneys representing shareholders in a securities fraud lawsuit against Rivian Automotive Inc. asked a federal judge in Los Angeles to certify the class, saying the plaintiffs have met all of the requirements under the law.
“The class action device is a superior method for fairly and efficiently adjudicating this action,” Kessler Topaz Meltzer & Check LLP partner Sharan Nirmul wrote in Friday’s motion. “Given the large number of Rivi...
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