Class Action Lawsuits Commenced Against Gritstone bio, Roblox Corporation, and Rivian Automotive

Law firm Bragar Eagel & Squire, P.C. has announced the commencement of class action lawsuits on behalf of stockholders of Gritstone bio, Inc. (GRTS), Roblox Corporation (RBLX), and Rivian Automotive, Inc. (RIVN). Investors have until the specified deadlines to petition the court to serve as lead plaintiff.

The class action against Gritstone bio, Inc. covers the period from March 9, 2023, to February 29, 2024. Gritstone, a clinical-stage biotechnology company, allegedly made false and misleading statements regarding its business, operations, and prospects. The company’s ability to successfully develop and commercialize its products was overstated, and the launch of a Phase 2b study was delayed, negatively impacting its funding and stock price.

Roblox Corporation, an online entertainment publisher and distributor, is facing a class action lawsuit covering the period from November 15, 2023, to May 8, 2024. The lawsuit alleges that defendants provided false information about Roblox’s projected revenue outlook and bookings growth. Roblox faced difficulties converting daily active users into bookings, leading to a revision of its fiscal year 2024 guidance and a significant drop in its stock price.

Rivian Automotive, Inc. is the subject of a class action lawsuit covering the period from August 12, 2022, to February 21, 2024. The lawsuit claims that Rivian overstated demand for its electric vehicles, concealed the negative impact of inflation and higher interest rates, and failed to meet production targets. After announcing its financial results, including lower production estimates and an adjusted EBITDA loss, Rivian’s stock price experienced a significant decline.

Investors who wish to participate in any of these class actions must meet the specified lead plaintiff deadlines. Bragar Eagel & Squire, P.C. is a nationally recognized law firm representing individual and institutional investors in complex litigation cases.

Please note that prior results do not guarantee similar outcomes. For more information on each class action, including specific allegations and deadlines, please refer to the provided links.

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