Summary: This consolidated summary relates to a class action lawsuit filed on March 7, 2022, in the United States District Court for the Northern District of California. The plaintiff, Charles Larry Crews, Jr., has initiated the lawsuit against Rivian Automotive, Inc., along with various individuals and financial institutions, alleging securities violations. The complaint alleges that Rivian, an electric vehicle company, made false statements and omitted crucial information in its registration statement for its initial public offering (IPO). These alleged misrepresentations and omissions are said to have artificially inflated the price of Rivian's shares during the IPO. Additionally, the plaintiff claims that Rivian underpriced its vehicles, resulting in necessary price increases shortly after the IPO. This allegedly harmed the company's reputation and put existing and future preorders at risk of cancellation. The plaintiff seeks damages on behalf of themselves and other class members who acquired Rivian's shares through or traceable to the IPO. The claims in the lawsuit are based on strict liability and negligence, without any allegations of fraud. The lawsuit involves multiple defendants, including Rivian, several individuals involved in the preparation and signing of the Registration Statement for the IPO, and various underwriters who assisted in the preparation and dissemination of the false and misleading Registration Statement and Prospectus. The underwriters also participated in conducting and promoting the roadshow for the offering and covered the expenses of the individual defendants involved in the roadshow. The lawsuit alleges that the defendants violated federal securities laws by making false and misleading statements in the Registration Statement and Prospectus. The plaintiffs seek damages on behalf of themselves and other class members who purchased Rivian's shares through the offering. In summary, the lawsuit accuses Rivian and the underwriter defendants of violating federal securities laws by providing false and misleading information in the Registration Statement and Prospectus. The plaintiffs seek damages for investors who purchased Rivian's securities during the relevant period.