NEW YORK, Oct. 30, 2022 (GLOBE NEWSWIRE) — Pomerantz LLP Investigating Claims on Behalf of Investors of Rivian Automotive, Inc. (“Rivian” or the “Company”) RIVN. Those investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, extension 7980.
The investigation concerns whether Rivian and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.
[Click here for information about joining the class action]
On October 7, 2022, Rivian issued a recall of approximately 13,000 vehicles after discovering an issue with the steering system on affected vehicles. Rivian stated that a fastener connecting the upper control arm and steering knuckle may have been installed incorrectly, threatening the vehicles could be more difficult to control, increasing the risk of an accident.
As a result of this news, Rivian’s share price fell $2.47 per share, or 7.28%, to close at $31.48 per share on October 10, 2022.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris and Tel Aviv, is recognized as one of the leading law firms specializing in corporate, securities and antitrust litigation. Founded by the late Abraham L. Pomerantz, best known as Dean of the Class Bar Association, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues the tradition he founded and fights for the rights of victims of securities fraud, fiduciary breaches and corporate wrongdoing. The firm has recovered numerous multi-million dollar claims on behalf of group members. See www.pomlaw.com.
CONTACT:
Robert S Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980
