- Rivian agrees to a $250 million settlement resolving a 2022 securities class action.
- The company denies wrongdoing and says the deal allows focus on upcoming R2 vehicle launch.
- Settlement covers stock purchases between Nov. 10, 2021, and Mar. 10, 2022.
- Payment funded by $67M in insurance and $183M in cash on hand, pending court approval.
Rivian Automotive, Inc. announced it has reached an agreement to settle the previously disclosed 2022 securities class action lawsuit filed in the U.S. District Court for the Central District of California (Crews v. Rivian Automotive, Inc. et al., Case No. 2:22-cv-01524-JLS-E).
While Rivian denies all allegations and admits no fault, the company said the settlement allows it to redirect focus and resources toward its next major product milestone — the launch of the mass-market R2 platform, scheduled for the first half of 2026.
Settlement Terms
Under the proposed agreement, Rivian will pay $250 million to settle claims on behalf of investors who purchased its Class A common stock during the period from November 10, 2021, to March 10, 2022.
The company stated the settlement will be funded through a combination of $67 million from directors’ and officers’ liability insurance and $183 million in cash on hand. The agreement is subject to court approval, after which all claims against Rivian and other defendants will be resolved.
Additional details and filings related to the settlement can be accessed at www.RivianSecuritiesLitigation.com.
About Rivian
Rivian (NASDAQ: RIVN) designs and manufactures electric vehicles, software, and energy solutions that support the full lifecycle of sustainable transportation. Built in the United States, Rivian’s products serve both consumer and commercial markets, contributing to the broader goal of accelerating the transition to zero-emission mobility.
More information about Rivian’s vehicles, technology, and careers can be found at www.rivian.com.
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