Crews v. Rivian Automotive Securities Litigation

CHARLES LARRY CREWS, JR., Individually and on Behalf of All Others Similarly Situated, Plaintiffs,

v.

RIVIAN AUTOMOTIVE, INC., et al., Defendants

Case No. 2:22-cv-01524-JLS-E

United States District Court 

for the Central District of California

Western Division

This website has been established to provide general information regarding the pending class action lawsuit known as Charles Larry Crews, Jr., et al. v. Rivian Automotive, Inc., et al., Case No. 2:22-cv-01524-JLS-E (“Action”). More information can be found in the detailed Notice of Pendency of Class Action (“Notice”) which is available here. The Court in charge of the Action is the United States District Court for the Central District of California ("Court").

Please be advised that your rights may be affected by the proceedings in the Action if you are a member of the following Court-certified Classes:

• For 1934 Act Claims: All persons and entities who purchased or otherwise acquired Rivian Automotive, Inc. ("Rivian") Class A common stock between November 11, 2021, and March 10, 2022, inclusive, and were damaged thereby. The Class excludes those who purchased Rivian Class A common stock at the fixed Initial Public Offering ("IPO") price.

• For 1933 Act Claims: All persons and entities who purchased or otherwise acquired Rivian Automotive, Inc. Class A common stock between November 10, 2021, and March 10, 2022, inclusive, and were damaged thereby.

Both Classes exclude Defendants and their families, the officers, directors, and affiliates of Defendants, at all relevant times, members of their immediate families and their legal representatives, heirs, successors, or assigns, and any entity in which Defendants have or had a controlling interest.

In addition to certifying the above Classes, the Court has appointed Sjunde AP-Fonden and James Stephen Muhl as Class Representatives, Kessler Topaz Meltzer & Check, LLP as Class Counsel, and Larson LLP as Liaison Counsel.

As more fully described in the Notice, the pending Action alleges that Rivian’s IPO offering documents (and certain of its post-IPO statements to investors during an earnings call and filing with the U.S. Securities Exchange Commission on December 17, 2021) violated the federal securities laws by making materially false and misleading statements and failing to disclose material facts and risks arising from, among other things, the alleged fact that the bill of materials cost of Rivian’s R1S and R1T (together, “R1”) electric vehicles far exceeded the sales price at which these vehicles were being offered to customers requiring Rivian to increase R1 retail prices. The Action is ongoing. A trial date has not yet been set. Defendants have denied all claims and wrongdoing asserted in the Action as well as any liability arising out of the conduct alleged.

No court has made a ruling on the merits of Class Representatives’ allegations or on Defendants’ denials and defenses. By certifying the Classes and ordering the issuance of notice to the Classes, the Court is not expressing an opinion as to the merits of Class Representatives’ allegations or of Defendants’ denials or defenses.

There is no judgment, settlement, or monetary recovery at this time, and there is no assurance that a judgment in favor of the Classes will be granted or that the Court will award the Classes a monetary recovery. 

Requesting Exclusion: If you are a member of the Class(es) and want to remain as such, you do not need to do anything at this time other than to retain your documentation reflecting your transactions and holdings in Rivian Class A common stock during the Class Period. If you do not want to remain a member of the Class(es), you can request to exclude yourself from the Class(es) by submitting a request for exclusion by March 4, 2025 in accordance with the instructions set forth in the Notice.

Although the information on this website is intended to assist you, it does not replace the information contained in the Notice. Please read the Notice carefully to fully understand your rights.

Please do not call or write the Court. All questions should be directed to Class Counsel or the Administrator. 

The information on this website, including the dates and deadlines set forth below, is subject to change.  Please continue to check this website for updates.