Rivian agrees to $250m settlement in 2022 IPO lawsuit

Rivian Automotive has reached a $250m agreement to settle a securities class action that was filed in 2022. The litigation, filed in the United States District Court for the Central District of California, alleged that Rivian’s initial public offering (IPO) disclosures and certain post‑IPO statements made during an earnings call and in a Securities and Exchange Commission (SEC) filing on 17 December 2021 were materially false or misleading. The company announced its intention to go public in 2021. Plain ...