Two Former Volkswagen Engineers Arrested for Rivian Insider Trading
10 Articles
10 Articles
Two Former Volkswagen Engineers Arrested for Rivian Insider Trading
Two former Volkswagen (VWAGY) engineers have been arrested and accused of insider trading before the automaker announced its $5 billion joint venture with Rivian Automotive (RIVN). Federal prosecutors say that Michael Stamp and Michael Plank used confidential information from their jobs at Volkswagen to trade Rivian shares before the partnership became public on June 26, 2024. Rivian’s stock jumped 23% after the announcement, since it gave the e…
With their knowledge of an upcoming billions deal, two Volkswagen engineers are said to have earned hundreds of thousands of dollars. Now they are indicted in the USA. Previously, they are said to have Googled insider trading.
Two former Volkswagen employees have been charged on suspicion of insider trading. The two engineers bought shares in the American car manufacturer Rivian before it became known that it was entering into a partnership with Volkswagen worth 5 billion dollars.
Ex-VW Engineers Charged With Insider Trading on Rivian Venture
US federal prosecutors have charged two former Volkswagen engineers with using inside information to profit from the automaker’s joint venture with electric car maker Rivian. Volkswagen and Rivian entered into a joint venture agreement on June 26, 2026. The deal will see Volkswagen invest around $5 billion, providing Rivian with significant financial support at a time when the electric car market has slowed. However, […]
An ill-inspired Google search, a secret project called "Project Climb" and a mega-agreement in electricity. The cocktail that is now worth two former Volkswagen engineers to be caught up in the US justice system. These employees, based in San Jose, California, are suspected of having bet on the Rivian stock exchange just before the announcement of the future joint venture between the German manufacturer and the specialist of electric pick-ups. T…
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