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Rivian Settles $250M Shareholder Lawsuit Over Price Hikes
Beyond Blockchain
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Electric vehicle maker Rivian agreed to a $250 million settlement for a class action lawsuit tied to sudden price increases on its R1 pickup and SUV in 2022. The suit alleged misleading IPO filings regarding production costs.
Rivian will pay $67M from director/officer insurance and $183M from cash reserves. The company denies wrongdoing but aims to close the chapter as it prepares to launch its second-generation R2 SUV in 2026.
