ATLANTA, GA – – (Globe Newswire – April 22, 2024) – – A shareholder class action lawsuit has been filed against Rivian Automotive, Inc. (“Rivian” or the “Company”) (NASDAQ: RIVN). The lawsuit alleges that Defendants made materially false and misleading statements and/or failed to disclose material adverse information regarding the Company’s business, operations, and prospects, including allegations that: (i) Rivian had overstated demand for its products, as well as its ability to withstand negative, near-term macroeconomic impacts; (ii) accordingly, Rivian’s business was experiencing reduced demand and increased customer cancellations as a result of, inter alia, high interest rates; (iii) as a result, Rivian’s order bank had significantly deteriorated; and (iv) all the foregoing was likely to, and did, negatively impact the Company’s anticipated earnings and vehicle production targets for 2024.

If you bought Rivian shares between March 1, 2023 and February 21, 2024, and suffered a significant loss on that investment, you are encouraged to discuss your legal rights by contacting Corey Holzer, Esq. at cholzer@holzerlaw.com, by toll-free telephone at (888)-508-6832 or, you may visit the firm’s website at www.holzerlaw.com/case/rivian-automotive/ to learn more.

The deadline to ask the court to be appointed lead plaintiff in the case is June 18, 2024.