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International Business Times
International Business Times
Business

Rivian Reaches $250 Million Settlement in Shareholder Suit Over IPO Pricing Claims

Rivian IPO United States

Rivian has agreed to pay $250 million to settle a 2022 shareholder class-action lawsuit that claimed the electric vehicle maker misled investors about its vehicle prices during its 2021 initial public offering (IPO), according to a court filing on Thursday.

The lawsuit alleged Rivian hid the fact that it had underpriced its R1S SUVs and R1T pickups, which later led to unpopular price hikes.

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