Summary: This lawsuit was filed on March 7, 2022, in the United States District Court for the Central District of California. The plaintiffs, including Charles Larry Crews, Jr., Connecticut Retirement Plans and Trust Funds, Sjunde AP-Fonden, and James Stephen Muhl, allege that Rivian Automotive, Inc. and its executives, Robert J. Scaringe and Claire McDonough, violated federal securities laws. The lawsuit also names several underwriters, such as Morgan Stanley, Goldman Sachs, and J.P. Morgan, as defendants. The plaintiffs claim that Rivian made false statements and omitted important information in its registration statement for its initial public offering (IPO). They argue that the IPO shares were undervalued, and Rivian would have to increase prices shortly after the IPO, which would damage the company's reputation and put existing and future preorders at risk of cancellation. The plaintiffs contend that the price of Rivian's shares was artificially inflated at the time of the offering. The lawsuit seeks to obtain a remedy for the alleged violations of federal securities laws on behalf of the plaintiffs and other class members who acquired Rivian's shares through the IPO. The plaintiffs seek compensation for the damages suffered as a result of the defendants' actions, including the dissemination of false and misleading statements in the registration statement and prospectus. The lawsuit also alleges that the underwriters assisted in the preparation and dissemination of these false statements and seeks to hold them accountable for their involvement.