Rivian’s $250 Million IPO Investor Settlement Gets Court Sendoff

Rivian Automotive Inc.'s $250 million investor accord garnered a federal judge’s final blessing, resolving allegations the electric-vehicle maker hid inevitable price hikes surrounding its initial public offering.

The investors’ class counsel will get $60 million—24% of the settlement total—in attorneys’ fees and $6.46 million for litigation costs, Judge Josephine L. Staton said, approving the settlement Wednesday. The investors serving as class representatives will get almost $96,000, the US District Court for the Central District of California judge said.

• The class action—levying both securities fraud and non-fraud, IPO-related claims—alleged false and misleading statements in Rivian’s IPO paperwork and a 2021 earnings ...