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ARVL.US

id: 1536

Arrival ($ARVL) Investor Settlement

Late claims are being considered for compensation, subject to approval.

$11,275,000

Cash Settlement

E.D. New York

Court

1:22-cv-00172

Case number

11/18/2020

Class period Start

11/19/2021

Class period End

02/24/2026

Claim deadline

Arrival has agreed to settle with $ARVL investors to resolve claims that it misled them about its production capabilities, microfactory model, and revenue projections ahead of its SPAC merger with CIIG.

Outline 

Between 2020 and 2021, Arrival allegedly overstated its production readiness and misled investors about the viability of its micro-factory model. In November 2021, the company slashed production guidance and revealed delays and rising costs. Following this, $ARVL fell over 95%, and Arrival faced a lawsuit from investors. 

Timeline
March 24, 2021 – Arrival completed its merger with CIIG and began trading on Nasdaq under the ticker $ARVL.
November 8, 2021 – Arrival slashed its 2022 production guidance from 10,000 vehicles to 400 and disclosed rising costs. $ARVL dropped 27.6%.
November 19, 2021 – Following additional capital raise disclosures, $ARVL dropped another 20%.
August 2022 – Arrival confirmed it would build only 20 vehicles in 2022 and expected no revenue.
September 2022 – $ARVL dropped 96%.
February 14, 2023 – Investors filed a lawsuit, alleging Arrival misled them about its production capabilities and financial outlook.
March 18, 2025 – Arrival agreed to settle to resolve investor claims related to its production delays and misstatements.
Background

Arrival entered the EV market in 2020, claiming it could revolutionize vehicle manufacturing through its “micro-factory” model—small-scale, flexible production facilities using autonomous robots and proprietary materials. The company promoted high-margin forecasts and claimed it was ready to begin production of electric buses and vans.

However, many of Arrival’s key production components were not ready for use. Its autonomous mobile robots (AMRs) reportedly struggled to perform basic tasks, production molds were incomplete or faulty, and its warehouses lacked essential manufacturing infrastructure. 

Despite internal delays, Arrival continued assuring investors that everything was “tracking” according to plan.

But, by late 2021, Arrival revealed it would produce far fewer vehicles than projected and disclosed substantial cost overruns. Over time, $ARVL fell 96%.

As a result, on January 12, 2023, investors sued, claiming they were misled.

What Can Investors Expect Now?

Arrival has agreed to settle with $ARVL investors to resolve claims that it misled them about its production capabilities, micro-factory model, and revenue projections ahead of its SPAC merger with CIIG.

If you were impacted by this situation, you may be eligible for a payout. You can check your eligibility and learn more in the FAQ section below.

Case Type

US Securities Class Action

Case Status

Accepting Late Claims

Alleged Offence

Misleading Statements,

Financial Misrepresentation,

Failure to Disclose

Suspected Party

Directors,

Management

Security Type

Stocks

Trade Direction

Long

Payout per Share

0.12

Filing date

01/12/2022

Plaintiffs

Salvatore Fiorellino

Attorneys

The Rosen Law Firm, P.A.

Defendants

Denis Sverdlov; Michael Abelson; Tim Holbrow; Avinash Rugoobur

Administrator

Strategic Claims Services

Court hearing date

03/17/2026

Exclusion deadline

02/24/2026

Objection deadline

02/13/2026

Attorney fee

$4,424,999

Trades matching type

FIFO

Frequently Asked Questions

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