Rivian to Pay $250 Million in Shareholder Suit Over Pricing Controversy
Rivian has reportedly agreed to a $250 million settlement to resolve a shareholder lawsuit stemming from controversial 2022 price increases. The legal action alleged the automaker misled investors about production costs and pricing strategy following its high-profile IPO. While denying wrongdoing, Rivian says settling allows focus on upcoming R2 vehicle launch.
Electric vehicle startup Rivian is moving to close a contentious chapter in its corporate history, reportedly agreeing to a $250 million settlement to resolve a class-action lawsuit filed by shareholders. The agreement, which still requires court approval, addresses allegations that the automaker misled investors about its pricing strategy and production costs around the time of its blockbuster 2021 public offering.