From must-have trends to timeless essentials — always at the best prices

Rivian agrees to settle shareholder lawsuit for $250 million

Rivian has agreed to settle a 2022 shareholder lawsuit. The automaker will pay out $250 million to qualifying buyers if the settlement is authorised. The lawsuit stemmed from alleged deception surrounding a March 2022 price hike for the R1S SUV and R1T truck.

The category-action lawsuit alleges that Rivian misled buyers across the time of its 2021 IPO. The core accusation is that the automaker did not disclose that the R1s and R1T have been initially priced decrease than their manufacturing prices. Shareholders declare this made the eventual worth will increase inevitable, one thing they (understandably) imagine Rivian ought to have shared.

Rivian raised the base price of the R1S and R1T by $12,000 in March 2022. That originally included most reservations. Nonetheless, the corporate quickly reversed course on the final bit: Following a backlash, it allowed prospects who pre-ordered earlier than the announcement to pay the unique worth in spite of everything.

Rivian framed the settlement as an opportunity to maneuver ahead. “The corporate denies the allegations within the swimsuit and maintains that this settlement to settle shouldn’t be an admission of fault or wrongdoing,” the automaker wrote in a statement. “Nonetheless, settling will allow Rivian to focus its assets on the launch of its mass market R2 car within the first half of 2026.”

The US District Courtroom for the Central District of California, Western Division, will nonetheless have to approve the settlement.

Information of the proposed settlement comes a day after Reuters reported that Rivian is shedding 4.5 p.c of its workforce (over 600 employees). Final month’s expiration of $7,500 tax credits and President Trump’s tariffs, mixed with weakened EV demand, are making profitability extra of an uphill climb.

Trending Merchandise

- 7% Acer CB272 Ebmiprx 27″ FHD 19...
Original price was: $139.99.Current price is: $129.99.

Acer CB272 Ebmiprx 27″ FHD 19...

0
Add to compare
- 27% Dell SE2422HX Monitor – 24 in...
Original price was: $164.39.Current price is: $119.99.

Dell SE2422HX Monitor – 24 in...

0
Add to compare
- 31% Logitech MK270 Wi-fi Keyboard And M...
Original price was: $40.22.Current price is: $27.93.

Logitech MK270 Wi-fi Keyboard And M...

0
Add to compare
- 9% Logitech MK335 Wi-fi Keyboard and M...
Original price was: $34.99.Current price is: $32.01.

Logitech MK335 Wi-fi Keyboard and M...

0
Add to compare
- 5% Acer Chromebook 314 CB314-4H-C2UW L...
Original price was: $239.99.Current price is: $229.00.

Acer Chromebook 314 CB314-4H-C2UW L...

0
Add to compare
- 36% NZXT H5 Stream Compact ATX Mid-Towe...
Original price was: $146.62.Current price is: $93.99.

NZXT H5 Stream Compact ATX Mid-Towe...

0
Add to compare
- 30% CHONCHOW 87 Keys TKL Gaming Keyboar...
Original price was: $28.59.Current price is: $19.99.

CHONCHOW 87 Keys TKL Gaming Keyboar...

0
Add to compare
- 13% SABLUTE Wireless Keyboard and Mouse...
Original price was: $45.99.Current price is: $39.99.

SABLUTE Wireless Keyboard and Mouse...

0
Add to compare
- 44% GAMDIAS ATX Mid Tower Gaming Pc PC ...
Original price was: $107.38.Current price is: $59.99.

GAMDIAS ATX Mid Tower Gaming Pc PC ...

0
Add to compare
- 31% Acer Nitro 27″ WQHD 2560 x 14...
Original price was: $289.99.Current price is: $199.99.

Acer Nitro 27″ WQHD 2560 x 14...

0
Add to compare
.

We will be happy to hear your thoughts

Leave a reply

FindExclusiveTrends
Logo
Register New Account
Compare items
  • Total (0)
Compare
0
Shopping cart