MarketPR
An insider trading indictment unsealed Friday puts RIVN in focus, with federal prosecutors charging Volkswagen engineers over Rivian stock purchases allegedly made on confidential knowledge of the two companies' joint venture.
The charges represent a criminal case built on the theory that the engineers traded on material nonpublic information. The next item to watch is the court proceeding that follows the unsealing.
The allegation Prosecutors allege the Volkswagen engineers accessed confidential information through their involvement in the joint venture and used it to buy Rivian shares.
The indictment does not name specific individuals or detail a share count or time window for the alleged trades.
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