The esteemed Gross Law Firm has issued an important notification to the shareholders of Rivian Automotive, Inc. (NASDAQ: RIVN), urging those who acquired shares of RIVN during the class period from August 12, 2022 to February 21, 2024 to contact the firm regarding the potential appointment of a lead plaintiff. While being appointed as a lead plaintiff is not obligatory to participate in any prospective recovery, shareholders are strongly advised to consider their options before the imminent deadline on July 30, 2024.
The complaint alleges that during the specified class period, Rivian’s key executives made statements that were either materially false or misleading, or omitted crucial information. These alleged misrepresentations include overstating the demand for its products and its ability to withstand negative macroeconomic impacts, as well as underestimating the impact of high-interest rates which resulted in reduced demand and increased customer cancellations. Consequently, the company’s order bank significantly declined, negatively impacting Rivian’s anticipated earnings and vehicle production targets for 2024. Shareholders are reminded not to delay in registering for this class action by the given deadline to seek potential recovery.
Once registered, shareholders who purchased shares of RIVN within the specified timeframe will be automatically enrolled in a portfolio monitoring software to receive regular status updates throughout the lifecycle of the case. It is imperative for shareholders to take note of the upcoming deadline and seize the opportunity to participate in this case without incurring any cost or obligation.
The Gross Law Firm, a nationally recognized class action law firm, is committed to protecting the rights of investors who have suffered due to deceit, fraud, and illegal business practices. With a mission to ensure that companies adhere to responsible business practices and engage in good corporate citizenship, the firm aims to recover losses on behalf of investors who have been impacted by false and/or misleading statements leading to artificial inflation of the company’s stock. It is important to note that attorney advertising and prior results do not guarantee similar outcomes.
For further information and consultation, shareholders are encouraged to contact The Gross Law Firm at their New York office located at 15 West 38th Street, 12th floor. Alternatively, they can also be contacted via email at [email protected] or by phone at (646) 453-8903.
In light of these developments, shareholders are urged to carefully consider their options and take appropriate action before the approaching deadline on July 30, 2024. Staying informed and seeking timely participation in this case is essential to protect the interests of affected shareholders.
Source: The Gross Law Firm