{"id":1173,"date":"2024-06-04T21:48:49","date_gmt":"2024-06-04T21:48:49","guid":{"rendered":"https:\/\/usatrustedlawyers.com\/blog\/california-ev-maker-rivian-accused-of-securities-fraud-in-new-class-action\/"},"modified":"2024-06-04T21:48:49","modified_gmt":"2024-06-04T21:48:49","slug":"california-ev-maker-rivian-accused-of-securities-fraud-in-new-class-action","status":"publish","type":"post","link":"https:\/\/usatrustedlawyers.com\/blog\/california-ev-maker-rivian-accused-of-securities-fraud-in-new-class-action\/","title":{"rendered":"California EV Maker Rivian Accused of Securities Fraud in New Class Action"},"content":{"rendered":"\n<div>\n<p>Following a string of workforce cuts, disappointing earnings calls and stock market slumps in the past year, California electric vehicle (EV) manufacturer Rivian faces a new securities class action alleging that it\u00a0defrauded investors.<\/p>\n<p>The <a href=\"https:\/\/cdn.prod.website-files.com\/65de53227e9062ef74e0445b\/665cf7fda48f3e36ef1c8324_Rivian_Automotive_Inc_Labaton.pdf\" rel=\"nofollow noopener\" target=\"_blank\">complaint<\/a>, filed on Friday in the Central District of California, claims that Rivian\u00a0made \u201cmaterially false and misleading statements\u201d between the period of\u00a0August 12, 2022 to February 21, 2024. It said that Rivian periodically cited \u201cstrong demand\u201d signaled by its backlog of EV preorders and planned production ramp-ups despite never having turned a profit since its founding in 2009. Rivian CEO and founder Robert J. Scaringe and Chief Financial Officer Claire McDonough are named as defendants.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Following a string of workforce cuts, disappointing earnings calls and stock market slumps in the past year, California electric vehicle (EV) manufacturer Rivian faces a new securities class [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1174,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[334,715,1434,650,643,1642,1643,1644],"class_list":["post-1173","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-lawyers","tag-accused","tag-action","tag-california","tag-class","tag-fraud","tag-maker","tag-rivian","tag-securities"],"_links":{"self":[{"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/1173","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/comments?post=1173"}],"version-history":[{"count":0,"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/1173\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/media\/1174"}],"wp:attachment":[{"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/media?parent=1173"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/categories?post=1173"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/tags?post=1173"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}