Rivian Automotive Inc
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Consumer Discretionary : Automobiles |
Company profile

Rivian Automotive, Inc. is a manufacturer of electric vehicles (EV). The Company is engaged in designing, developing, and manufacturing EVs and accessories. It sells vehicles directly to customers in the consumer and commercial markets. Its offerings include R1T, a two-row, five-passenger pickup truck, as well as the R1S, a three-row, seven-passenger sport utility vehicle (SUV). The R1 technology systems include vehicle electronics, battery, electric drive, chassis, Driver+, its advanced driver assistance system (ADAS), and digital user experience management. It also offers a portfolio of vehicle accessories, including all-weather floormats, camp kitchen, three-person rooftop tent, at-home Rivian wall charger, and others. It also offers FleetOS, a centralized fleet management subscription platform. In the commercial market, it offers Rivian Commercial Vehicle (RCV) platform. Through its RCV platform, it designed and engineered Electric Delivery Van (EDV) in collaboration with Amazon.

Postmarket

Last Trade
Delayed
$20.39
-0.49 (-2.35%)
Bid
--
Ask
--
B/A Size
--

Market Hours

Closing Price
$20.88
Day's Change
1.17 (5.94%)
Bid close
--
Ask close
--
B/A Size
--
Day's High
22.09
Day's Low
20.32
Volume
(Above Average)
Volume:
38,935,050

10-day average volume:
35,191,442
38,935,050

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Rivian Automotive, Inc. - RIVN

3:57 pm ET November 9, 2022 (Newsfile) Print

New York, New York--(Newsfile Corp. - November 9, 2022) - Pomerantz LLP is investigating claims on behalf of investors of Rivian Automotive, Inc.(""Rivian" or the "Company") (NASDAQ: RIVN). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.

The investigation concerns whether Rivian and certain of its officers and/or directors have engaged in securities fraud or other unlawful 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 identifying a problem with the affected vehicles' steering system. Rivian stated that a fastener connecting the upper control arm and steering knuckle may have been installed incorrectly, which created a risk of that the vehicles could become more difficult to control, raising the risk of a crash.

On this news, Rivian's stock 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 acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

CONTACT:

Robert S. Willoughby

Pomerantz LLP

rswilloughby@pomlaw.com

888-476-6529 ext. 7980

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/143677

comtex tracking

COMTEX_418491263/2523/2022-11-09T15:57:21

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