Judge Approves $250M Rivian investor settlement, awards $60M in fees

[Oldsmobile_Mike]

https://www.dailyjournal.com/articl...rivian-investor-settlement-awards-60m-in-fees

Sorry, I don't have a non-paywalled copy of this article. Just saw it at the top of my feed. Sharing if anyone wants to dig into it further. Seems like some to me.

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[Dark-Fx]

Nice, more money I can invest in Rivian.

 

[Mellowyellow]

cow shit? isn't it supposed to be horse shit?

 

[HaveBlue]

Can't get out of bed without breaking a law

 

[Hereforthesnacks]

https://www.dailyjournal.com/articl...rivian-investor-settlement-awards-60m-in-fees

Sorry, I don't have a non-paywalled copy of this article. Just saw it at the top of my feed. Sharing if anyone wants to dig into it further. Seems like some to me.

Investors actually seemed to have a decent case.

 

[CharonPDX]

Can't get out of bed without breaking a law

That's why you have to leave the tags on the mattress.

 

[CharonPDX]

Only 24% to the lawyers? That actually feels a bit low. I wonder how much the class representatives got? (In a class action, the individuals who are the "first named people filing on behalf of everyone" usually get a lot more than the class in general.)

 

[SANZC02]

Investors actually seemed to have a decent case.

Not sure I agree.

The premise was that the material cost exceeded the price. Excluding the fixed costs that was not true and anyone investing should have known the initial rollout prices was not going to be profitable until they could get the production volume ramped up. Then factor in the COVID supply chain fiasco which, impacted not only material cost but the effeciency of the production ramp up. COVID was not a foresee able scenario during the IPO and had a huge impact on the start of production.

I just think people got caught up in the IPO feeding frenzy that sent the stock way higher than the value then were looking for someone to blame for their bad decision. Everyone knows investing in an IPO is high risk and my opinion if you can’t afford to risk the investment look for a safer place to invest.

Edit, @Hereforthesnacks , I reread my response, just wanted to clarify that last sentence was in general and not directed at you.

 

[SANZC02]

Only 24% to the lawyers? That actually feels a bit low. I wonder how much the class representatives got? (In a class action, the individuals who are the "first named people filing on behalf of everyone" usually get a lot more than the class in general.)

I can’t find what the 250 breakdown is, the cutoff to join the action was 4/20/2026, it will depend on how many joined the case. It does say 60 million is the lawyer fee but that looks separate from the 250.

 

[savethemanual]

cow shit? isn't it supposed to be horse shit?

Looks like a Bull to me....as in B.S.

 

[savethemanual]

I can’t find what the 250 breakdown is, the cutoff to join the action was 4/20/2026, it will depend on how many joined the case. It does say 60 million is the lawyer fee but that looks separate from the 250.

The attorneys have families to feed too. Ha!

 

[GreggVA]

Looks like we need more settlements!

 

[KBabione]

cow shit? isn't it supposed to be horse shit?

It's a bull...

 

[Mellowyellow]

It's a bull...

Yes I got it. I’ll fully admit I’m an idiot

 

[Tim-in-CA]

Cha Ching! Looking forward to my $4.73 check

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