Shareholders with $25,000 losses or more are encouraged to contact the firm.
LOS ANGELES, May 4, 2022 /PRNewswire/ -- The Law Offices of Frank R. Cruz announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against Rivian Automotive, Inc. ("Rivian" or the "Company") (NASDAQ: RIVN).
Class Period: November 10, 2021 – March 10, 2022
Lead Plaintiff Deadline:May 6, 2022
If you are a shareholder who suffered a loss, click here to participate.
The complaint filed alleges that, throughout the Class Period, Defendants failed to disclose to investors: (1) that Rivian had underpriced the R1T and R1S to such a degree that Rivian would be forced to raise prices shortly after the IPO; (2) the potential for significant reputational damage and cancellation of fully refundable preorders for the R1T and R1S that would result from Company's need to address its underpriced EVs by raising prices shortly after the IPO; and (3) as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
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To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
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SOURCE The Law Offices of Frank R. Cruz, Los Angeles
