Here's a Law Firm looking for Rivian Clients

[RivianDeac]

Rivian’s legal team stays busy.

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[LeoH]

So let us assume I am a shareholder who lost over $100K, would it make sense to sue the company in a Class Action lawsuit, probably get back $400 dollars at most and lose another 100K because the shares are going to tank due to the lawsuit.

 

[CharonPDX]

They’re looking for Rivian investors, not clients.

And I f*cking hate lawsuits of this nature. Bottom feeder lawyers trying to make a quick buck.

Yep, I got a solicitation for one of these over Arcimoto. I ignored them up front. They ended up settle a class-action, and I did join the class. Because the amount of money was fixed, so I might as well get "my share" of the class - which I promptly re-invested in Arcimoto.

 

[Craigins]

I'm being lazy at the moment, but was the COO even listed in the S-1?

Since i love the S-1 A3 document, no COO isn't even listed as an executive office. So all the news articles are moot.

CFO, CGO, CEO.

 

[ironpig]

I'm being lazy at the moment, but was the COO even listed in the S-1?

Nope. Just CEO, CFO and Chief Growth Officers.

EDIT - Sorry didn't see that @Craigins beat me to it. And he's correct that the COO announcement would not be grounds for a fraud lawsuit.

 

[GaryL]

Nope. Just CEO, CFO and Chief Growth Officers.

EDIT - Sorry didn't see that @Craigins beat me to it. And he's correct that the COO announcement would not be grounds for a fraud lawsuit.

But the battery news could be

 

[Craigins]

But the battery news could be

False. The S-1 does not mention Samsung. In fact it goes to mention multiple risk factors such as battery cell providers not building new plants, and Rivian failing to establish a long term supply contract for cells.

 

[Craigins]

The only leg the lawsuit has to stand on is Rivian's reaction to inaccurate news articles.

When the COO fake news was released, Rivian did nothing. There are articles out there stating that the CEO resigned due to production issues. And Rivian did nothing.

These fake news articles do affect the stock price, and Rivian does have a responsibility to the stock holders. So the arguement would be, how much does Rivian's inaction hurt the stock holders.

That is hard to quantify with the current dive of the tech stocks. Rivian typically mirrors Lucid with % change, so I'm not sure you'd be able to quantify the injury to stock holders.

Edit: spelling errors. Posting after beers is hard lol.

 

[GaryL]

The only leg the lawsuit has to stand on is Rivian's reaction to inaccurate news articles.

When the COO fake news was released, Rivian did nothing. There are articles out there stating that the CEO resigned due to production issues. And Rivian did nothing.

These fake news articles do affect the stock price, and Rivian does have a responsibility to the stock holders. So the arguement would be, how much does Rivian's inaction hurt the stock holders.

That is hard to quantify with the current dive of the tech stocks. Rivian typically mirrors Lucid with % change, so I'm not sure you'd be able to quantify the injury to stock holders.

Edit: spelling errors. Posting after beers is hard lol.

The same news article argument about the Rivian/Samsung "Partnership" are also present. I didn't imply any lawsuits had merit, just in todays world its not safe to cross the street without facing litigation

 

[the long way downunder]

I'm sure there was several pages written in the original Rivian business plan that budgeted on tens of millions in legal costs to repel pirate litigators.

As these class-action specialist litigators get going, they'll make discoveries, they'll get their shorts on – once Rivian has a few tens of thousands of vehicle owners, there will be the same attacks on the ground of misleading claims about the vehicle.

Hindenburg Research (famous for shorting Nikola and exposing its fraud) and others will come around chewing on Rivian. These firms have lost billions in investor funds trying to bet against Tesla.

It's unpleasant, but it's the primary source of discovering large scale fraud (the various US departments are not interested … people losing money in the stock market is important to the oligarchs.)

 

[koersontap]

LOL. Cheer up! I'm not saying lawyers in general are bottom feeders. I'm saying these particular lawyers are.

But......

 

[IPTV65]

I am sure this is totally a philanthropic endeavor on the part of The Schall Law Firm. Just sticking up for the little guy(who had roughly $200K+ to throw at Rivian at some point in Dec/Jan). The formula is well known and we all know who actually gets compensated as a result of this.

Apparently only those who lost $100K or more were impacted by the COO leaving? For the others it had no impact? Why choose that threshold? ...rhetorical questions BTW!

A lot of times when joining a class action lawsuit you give up your right to recover compensation individually. If it's really big deal to to me I'll go get a good attorney myself vs feeding these idiots. But that's just me.

 

[Samuelharper]

I came across this old post about the Schall Law Firm looking for Rivian clients, and it reminded me of my own experience after an Uber accident in St. Petersburg. After a not-so-great ride, I ended up needing a lawyer to help with everything, and I found a solid St. Petersburg Uber Accident Lawyer https://flinjurylawattorney.com/st-petersburg-uber-accident-lawyer/ who really got my situation. They were super supportive and made the whole process feel way easier. It’s such a relief to have someone in your corner who knows the ropes.

 

[TexasBob]

If I were king.... the compensation for contingent lawsuits would be capped at 3X the prevailing hourly rate of that firm and the individual lawyers involved. This would eliminate the incentive for low-probability/high-payout lawsuits while retaining the ability of people with limited means to get high quality representation on a contingent basis.

 

[iansriv]

Interesting. I have taken a significant "bath" but I'm an adult and knew the risks. Even if I could get all my money back, I could never wipe away the shame and ridicule I've been subjected to for the investment (j/k). C'est la vie.

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