Kessler Topaz Meltzer & Check, LLP Announces Pendency of Class Action Involving Purchasers of Rivian Automotive, Inc. Class A Common Stock

LOS ANGELES, Dec. 9, 2024 /PRNewswire/ --

UNITED STATES DISTRICT COURT
FOR THE CENTRAL DISTRICT OF CALIFORNIA
WESTERN DIVISION

SUMMARY NOTICE OF PENDENCY OF CLASS ACTION

TO: ALL PERSONS AND ENTITIES WHO PURCHASED OR OTHERWISE ACQUIRED RIVIAN AUTOMOTIVE, INC. CLASS A COMMON STOCK BETWEEN NOVEMBER 10, 2021, AND MARCH 10, 2022, INCLUSIVE, AND WERE DAMAGED THEREBY.

YOU ARE HEREBY NOTIFIED, pursuant to Federal Rule of Civil Procedure ("Rule") 23 and by Order of the United States District Court for the Central District of California, that the above-captioned action ("Action") against Rivian Automotive, Inc. ("Rivian"), certain of Rivian's executive officers and directors, and the underwriters that facilitated the offer and sale of Rivian Class A common stock through the company's Initial Public Offering ("IPO") on November 10, 2021 (collectively, "Defendants"), has been certified as a class action on behalf of the following Classes (also referred to herein as "Class"):

• For 1934 Act Claims: All persons and entities who purchased or otherwise acquired Rivian Class A common stock between November 11, 2021, and March 10, 2022, inclusive, and were damaged thereby. The Class excludes those who purchased Rivian Class A common stock at the fixed IPO price.

• For 1933 Act Claims: All persons and entities who purchased or otherwise acquired Rivian Class A common stock between November 10, 2021, and March 10, 2022, inclusive, and were damaged thereby.¹

The Court has appointed Sjunde AP-Fonden and James Stephen Muhl as Class Representatives and Kessler Topaz Meltzer & Check, LLP as Class Counsel. The Action has not been adjudicated or settled. This notice is not an admission by Defendants or an expression of any opinion by the Court as to the merits of the Action, or a finding by the Court that the claims asserted by Class Representatives in the Action are valid. This notice is not a settlement notice and is intended only to inform members of the Class that the Action is currently in progress.

IF YOU ARE A MEMBER OF THE CLASS, YOUR RIGHTS WILL BE AFFECTED BY THE LAWSUIT. This notice provides only a summary of the information contained in the detailed, long-form Notice of Pendency of Class Action ("Notice"). You may obtain a copy of the Notice from the website for the Action, www.RivianSecuritiesLitigation.com, or by contacting the Administrator:

Crews v. Rivian Automotive Securities Litigation
c/o Verita Global, LLC
P.O. Box 301170
Los Angeles, CA 90030-1170

If you are a Class member, you should receive a Postcard Notice regarding the Action by mail. If you are a Class member and you do not receive a Postcard Notice by mail, please send your name and address to the Administrator so that you will receive any future notices disseminated in connection with the Action.

Inquiries, other than requests for the Notice, and comments may be made to Class Counsel:

KESSLER TOPAZ MELTZER & CHECK, LLP
Sharan Nirmul, Esq.
280 King of Prussia Road 
Radnor, PA 19087
Telephone: (610) 667-7706

-or-

Jennifer L. Joost, Esq.
One Sansome Street, Suite 1850
San Francisco, CA 94104
Telephone: (415) 400-3000

[email protected] 
www.ktmc.com 

If you are a Class member, you have the right to decide whether to remain a member of the Class. If you choose to remain a member of the Class, you do not need to do anything at this time other than retain your documentation reflecting your transactions and holdings in Rivian Class A common stock. You will automatically be included in the Class, and you will be bound by the proceedings in the Action, including all past, present, and future orders and judgments of the Court, whether favorable or unfavorable to you. If you are a Class member and do not wish to remain a member of the Class, you must take steps to exclude yourself.

If you timely and validly request to be excluded from the Class, you will not be bound by any orders or judgments in the Action, and you will not be eligible to receive a share of any money which might be recovered in the future for the benefit of the Class. To exclude yourself from the Class, you must submit a written request for exclusion by mail or email by no later than March 4, 2025, in accordance with the instructions set forth in the Notice. Your request for exclusion must be signed. If you request exclusion via email, an e-signature is acceptable. Pursuant to Rule 23(e)(4), the Court has discretion as to whether a second opportunity to request exclusion from the Class will be allowed if there is a settlement in the Action.

Further information may be obtained by contacting the Administrator or by visiting the website www.RivianSecuritiesLitigation.com.

Please Do Not Call or Write the Court with Questions.

                                                                        BY ORDER OF THE COURT
                                                                        UNITED STATES DISTRICT COURT
                                                                        CENTRAL DISTRICT OF CALIFORNIA

¹ Both Classes exclude Defendants and their families, the officers, directors, and affiliates of Defendants, at all relevant times, members of their immediate families and their legal representatives, heirs, successors, or assigns, and any entity in which Defendants have or had a controlling interest.

SOURCE Kessler Topaz Meltzer & Check, LLP