Rivian agrees to pay $250M to settle 2022 securities class action

Rivian Automotive, Inc. / DE

Settlement covers claims from stock purchases between Nov 10, 2021 and Mar 10, 2022; court approval required.
Rivian denies allegations and states settlement is not an admission of wrongdoing; cites focus on R2 launch.
Payment funded by $67M from D&O insurance and $183M from cash on hand.
Case: Crews v. Rivian Automotive, Inc. et al., Case No. 2:22-cv-01524-JLS-E in Central District of California.

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