Securities
Feb. 21, 2023
Securities action over Rivian auto prices is dismissed
U.S. District Judge Josephine L. Staton said inflation and consumer demand made it difficult for the company to know at the time of its public offering that it would have to raise prices.
A federal judge in Los Angeles dismissed a securities class action against Rivian Automotive Inc. and its underwriters after the electric vehicle manufacturer was accused by some investors of misleading them before the company went public.
“To the extent that Rivian understood before the initial public offering that it would eventually have to raise prices based on internal profitability forecasts … Rising inflation and high demand would b...
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