NEW ORLEANS, March 29, 2022 (Globe NEWSWIRE) — ClaimsFiler, a Totally free shareholder details company, reminds investors that they have until May possibly 6, 2022 to file direct plaintiff programs in securities class action lawsuits from Rivian Automotive, Inc. (NasdaqGS: RIVN), if they obtained or or else acquired the Company’s shares among November 10, 2021 and March 10, 2022, inclusive (the “Class Period”) and/or pursuant or traceable to its November 2021 initial general public inventory offering (the “IPO”). These steps are pending in the United States District Courtroom for the Central District of California.

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About the Lawsuits

Rivian and specific of its executives are billed with failing to disclose materials info for the duration of the Course Period and/or in the Registration Assertion and Prospectus issued in conjunction with the preliminary community featuring, violating federal securities rules.

The alleged false and deceptive statements and omissions contain, but are not confined to, that the Company’s R1T electrical pickup truck and R1S electric powered SUV goods have been underpriced to these types of a diploma that the Company would have to raise prices soon following the IPO, which could tarnish its track record as a honest and transparent firm and potentially jeopardize gross sales for the present backlog of 55,400 preorders as effectively as long term preorders. As a end result, the cost of the Company’s shares was artificially and materially inflated at the time of the Providing and declined when the fact was subsequently unveiled.

The 1st-filed circumstance is Crews, Jr. v. Rivian Automotive Inc., et al., No. 22-cv- 1524.

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