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Class action suit against Rivian

Electron

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"CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Tesla investors who were adversely affected by alleged securities fraud between March 1, 2023 and February 21, 2024. Follow the link below to get more information and be contacted by a member of our team:

...Tesla-automotive-inc-lawsuit-submission-form?prid=80985&wire=4

TSLA investors may also contact ....

CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (i) Tesla had overstated demand for its products, as well as its ability to withstand negative, near-term macroeconomic impacts; (ii) accordingly, Tesla's business was experiencing reduced demand and increased customer cancellations as a result of, inter alia, high interest rates; (iii) as a result, Tesla's order bank had significantly deteriorated; (iv) all the foregoing was likely to, and did, negatively impact the Company's anticipated earnings and vehicle production targets for 2024; and (v) as a result, the Company's public statements were materially false and misleading at all relevant times.

WHAT'S NEXT? If you suffered a loss in Tesla during the relevant time frame, you have until June 18, 2024 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff."


There we go. Now it's proper. Tesla is hurting with their Model Y sales and the numbers will be nowhere near what we saw before. They're hurting in ways that will turn off investors.
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Eric9610

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Exactly. Like Tesla's overinflated range claims. Tesla is so much worse in so many ways. How about the rug pull with the massive price drop, leaving people upside down overnight etc. I always laugh when I see the adjusted 279 miles on the website for the MYP, when it used to be over 300.

What would be more proper is to take that website and replace Rivian with Tesla and then we'd be all in.
And the new range is a WAG on the Y's. Rivian has been so above board and transparent.

The thing that is concerning for Gen 1 owners is if they stop mapping roads for driver +. This could be a costly penalty for Rivian, one that would probably kill them. Imagine them being forced to make hardware upgrade kits for G2 component to fit G1's.
 
 




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