Levi & Korsinsky Announces Filing of Securities Class Action on Behalf of Rivian Automotive, Inc. (RIVN) Shareholders

NEW YORK, NY / ACCESSWIRE / July 7, 2024 / If you have suffered a loss on your Rivian Automobile, Inc. (NASDAQ:RIVN) and would like to learn more about a potential takeover under the federal securities laws, follow the link below for more information:

Rivian Lawsuit Submission Form

or contact Joseph E. Levi, Esq. by email at (protected email) or call (212) 363-7500 to speak with our team of experienced shareholder advocates.

THE TRIAL : A securities class action lawsuit has been filed against Rivian Automotive, Inc. that seeks to recover losses for shareholders who were adversely affected by an alleged securities fraud between August 12, 2022 and February 21, 2024.

CASE DETAILS: The complaint alleges that Defendants made false statements and/or concealed that: (i) Rivian overestimated demand for its products and its ability to withstand adverse near-term macroeconomic impacts; (ii) as a result, Rivian’s business was experiencing reduced demand and increased customer cancellations due to, among other things, high interest rates; (iii) as a result, Rivian’s order pipeline had materially deteriorated; (iv) all of the foregoing were likely to have, and did have, a negative impact on the Company’s anticipated earnings and 2024 vehicle production targets; and (v) as a result, the Company’s public statements were materially false and misleading at all relevant times.

AND AFTER? If you suffered a loss on Rivian stock during the relevant period – even if you still own your shares – visit https://zlk.com/pslra-1/rivian-automotive-inc-lawsuit-submission-form?prid=89587&wire=1 to learn more about your recovery rights. There is no cost or obligation to participate.

WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally recognized securities litigation firm, obtaining hundreds of millions of dollars for injured shareholders and building a strong reputation for winning high-stakes cases. The firm has extensive expertise in representing investors in complex securities litigation and a team of more than 70 dedicated to serving our clients. For seven consecutive years, Levi & Korsinsky has been ranked in the ISS Securities Class Action Services Top 50 Report as one of the top securities litigation firms in the United States. Attorney Advertising. Past results do not guarantee similar results.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Master Ed Korsinsky
33 Whitehall Street, 17th Floor
New York, NY 10004
(protected email)
Tel.: (212) 363-7500
Fax: (212) 363-7171
https://zlk.com/

SOURCE: Levi & Korsinsky, LLP