Crews v. Rivian Automotive Securities Litigation

CHARLES LARRY CREWS, JR., Individually and on Behalf of All Others Similarly Situated, Plaintiffs,

v.

RIVIAN AUTOMOTIVE, INC., et al., Defendants

Case No. 2:22-cv-01524-JLS-E

United States District Court 

for the Central District of California

Western Division

This website provides general information regarding the proposed settlement ("Settlement") of the securities class action known as Charles Larry Crews, Jr., et al. v. Rivian Automotive, Inc., et al., Case No. 2:22-cv-01524-JLS-E ("Action"). More information can be found in the detailed Notice of (I) Proposed Settlement; (II) Settlement Hearing; and (III) Motion for Attorneys’ Fees and Litigation Expenses (“Notice”) which is available here. The Court in charge of the Action is the United States District Court for the Central District of California ("Court").

Please be advised that the Court-appointed Class Representative Sjunde AP-Fonden and James Stephen Muhl (together, “Plaintiffs”), on behalf of themselves and the Classes (defined below), and defendants Rivian Automotive, Inc. (“Rivian”), certain of Rivian’s executives 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”) have agreed to settle the Action for $250,000,000 in cash. The Court preliminarily approved the Settlement by Order dated December 18, 2025.

If you are a member of one or both of the Court-certified Classes, you are subject to the Settlement unless you are excluded from the Classes as set forth below. The Classes certified by the Court are:

• 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 Initial 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.

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. Also excluded from the Classes are the persons and entities who or which excluded themselves from the Classes pursuant to Class Notice as listed in Appendix 1 to the Stipulation and Agreement of Settlement dated October 23, 2025 (“Stipulation”). If you previously excluded yourself from the Classes in connection with Class Notice, you will not be eligible to share in the Net Settlement Fund.

If you are a Class Member, your legal rights will be affected whether you act or do not act. Please read the Notice carefully to fully understand your rights and options.

As more fully described in the Notice, the Settlement, if approved by the Court, will resolve the Action against Defendants for alleged violations of the federal securities laws. Plaintiffs alleged that Defendants violated the federal securities laws by making materially false and misleading statements and failing to disclose material facts and risks arising from, among other things, the alleged fact that the bill of materials cost of Rivian’s R1S and R1T (together, "R1") electric vehicles far exceeded the sales price at which these vehicles were being offered to customers, requiring Rivian to increase prices. Defendants deny all of the allegations of wrongdoing asserted in the Action and deny any liability whatsoever to any member of the Classes.

As explained in the Notice, Plaintiffs and Class Counsel believe that the proposed Settlement is fair, reasonable, and adequate, and in the best interests of the Classes. Plaintiffs and Class Counsel believe that the Settlement provides a favorable result for the Classes, namely $250,000,000 in cash (less the various deductions described in the Notice), as compared to the risk that the claims in the Action would produce a smaller, or no, recovery after trial, and appeals, possibly years in the future.

If you are a Class Member, in order to be potentially eligible to receive a payment from the Settlement, you must submit a Claim Form, with the required supporting documentation, postmarked (if mailed) or online via this website, no later than April 20, 2026.

Payments to eligible claimants will be made only after approval of the Settlement and the completion of all claims processing. Please be patient, as this process will take some time to complete.

Please do not call or write the Court. All questions regarding the Action and the Settlement should be directed to Class Counsel or the Claims Administrator. 

The information on this website, including the dates and deadlines set forth below, is subject to change.  Please continue to check this website for updates.