California Appellate Court Affirms Dismissal Of Putative Class Action Against Electric Vehicle Company Based On Federal Forum Provision
By EsqSocial Corporation 08/05/25
On April 23, 2025, the Fourth Appellate District Court of Appeal of the State of California affirmed the dismissal of a putative class action asserting claims under the Securities Act of 1933 against an electric vehicle company and the underwriters of its IPO. Bullock v. Rivian Auto., Inc., 2025 WL 1177303 (Cal. App. 4th Dist. Apr. 23, 2025). The trial court dismissed the action based on a federal forum provision (“FFP”) in the issuer’s Delaware articles of incorporation, which required that...
By: A&O Shearman