Robbins LLP reminds investors of Rivian Automotive, Inc. class action lawsuit filed by

SAN DIEGO, May 01, 2024 (GLOBE NEWSWIRE) — Robbins LLP reminds investors that a shareholder represents a shareholder interested in purchasing or otherwise acquiring Rivian (NASDAQ: ) Automotive, Inc. (NASDAQ: RIVN ) A class action lawsuit was filed against all individuals and entities.

For more information, submit a form, email attorney Aaron Dumas, Jr., or call (800) 350-6003.

Allegation: Robbins Law Firm is investigating the following allegations Rivian Cars Inc. (RIVN) Misled Investors About Demand for Its Products

According to the complaint, during the Class Period, (i) Rivian overstated demand for its products and its ability to withstand short-term negative macroeconomic impacts; (ii) as a result, Rivian experienced reduced business demand and customer cancellations due to, among other things, high interest rates increase; (iii) as a result, Rivian's order base deteriorated significantly; (iv) all of the above factors could and did have a negative impact on the company's expected earnings and vehicle production goals for 2024.

When the truth about the company's fourth quarter and full-year 2023 financial results became known, Rivian shares fell $3.94, or 25.6%, to close at $11.45 per share on February 22, 2024.

What should we do now: You may be eligible to participate in a class action lawsuit against Rivian Automotive, Inc. Class members direct the litigation. You do not have to be involved in the case to be eligible for compensation. If you choose to take no action, you may remain absent from the Class.For more information please click here.

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All representation is on a contingency fee basis. Shareholders pay no fees or expenses.

About Robbins Law Firm: Some law firms that issued press releases on the matter did not actually file securities class action lawsuits; Robbins Law Firm did. As a recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been helping shareholders recover losses, improve corporate governance structures and hold corporate executives accountable for misconduct since 2002. More than $1 billion in compensation for shareholders.

To be notified when a settlement is reached in the class action lawsuit against Rivian Automotive, Inc., or to receive free alerts when a company executive engages in inappropriate conduct, sign up Stock Watch today.

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