Updates for Getting Payment on the Rivian $250 million Settlement
Hey guys, if you missed it, Rivian settled $250 million with investors over claims that it failed to disclose the true cost of producing its vehicles. And, I just found out that they’re accepting claims even though the deadline has passed.
Quick recap: In 2022, Rivian was accused of misleading investors about its vehicle pricing and production costs. In short, the company promoted its R1T pickup and R1S SUV as competitively priced electric vehicles, but investors later alleged that Rivian was losing substantial amounts of money on each vehicle sold and failed to clearly disclose how severe the cost gap was. As supply-chain issues and material costs increased, Rivian announced major price hikes that sparked customer backlash and raised concerns about the company’s financial outlook.
Now, the good news is that the company agreed to settle $250 million with them, and even though the deadline has passed recently, they’re accepting late claims.
So, if you invested in $RIVN when all of this happened, you can still check the details and file your claim here.
Anyway, has anyone here invested in $RIVN at that time? How much were your losses, if so?