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Benzinga
Benzinga
National
Rachit Vats

Rivian Failed To Disclose Price Hike Plans To Investors, Lawsuit Alleges

Rivian Automotive Inc (NASDAQ: RIVN) may have rolled back price hikes after widespread online backlash, but that episode has now drawn a shareholder lawsuit, protocol.com reported on Tuesday, citing court filings.

What Happened: The lawsuit, filed by shareholder Charles Crews on Monday in a California U.S. District Court, alleges the recently listed company misled investors by not disclosing it would raise prices of its electric vehicles after going public.

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