NEW YORK, Oct. 30, 2022 – Pomerantz LLP is actively investigating claims on behalf of investors of Rivian Automotive, Inc. (NASDAQ: RIVN). Investors are encouraged to reach out to Robert S. Willoughby at newaction@pomlaw.com or call 888-476-6529, ext. 7980 for further information.
The investigation focuses on potential securities fraud or other unlawful business practices allegedly engaged in by Rivian and certain officers and directors of the company.

This inquiry follows Rivian’s announcement on October 7, 2022, regarding a recall of approximately 13,000 vehicles due to a defect in the steering system. The company indicated that a fastener connecting the upper control arm to the steering knuckle may have been improperly installed, which could make the vehicles harder to control and heighten the risk of a crash.

As a result of this news, Rivian’s stock experienced a decline, dropping $2.47 per share, or 7.28%, to close at $31.48 per share on October 10, 2022.

Pomerantz LLP, recognized as one of the leading firms in corporate, securities, and antitrust class litigation, has a longstanding history of advocating for victims of securities fraud and corporate misconduct. Founded by the late Abraham L. Pomerantz, the firm has a track record of securing significant financial recoveries for its clients over its more than 85 years of operation.