Rivian, the electrical automaker that lately filed for an IPO, has been sued by a former gross sales and advertising and marketing vice chairman for alleged gender discrimination.
The lawsuit alleges that Laura Schwab, a former gross sales and advertising and marketing government who had a protracted employment historical past with Jaguar Land Rover and Aston Martin earlier than becoming a member of Rivian in November 2020, was fired after reporting gender discrimination to the corporate’s human assets division. The lawsuit was filed Thursday in California Superior Court docket in Orange County.
A Rivian spokeswoman advised FiratNews that because of a quiet interval forward of its public providing, the corporate can’t provide remark.
Schwab additionally filed an announcement of declare with the American Arbitration Affiliation and laid out her allegations in a weblog submit printed on Medium. The AAA assertion, seen by FiratNews, describes a “poisonous bro tradition” on the firm’s highest ranges. The lawsuit alleges that Schwab was commonly ignored by her superior when making an attempt to level out issues. She was commonly excluded from conferences attended by her male friends and choices concerning her workforce had been made with out her enter, the assertion says. The AAA assertion additionally says that her issues concerning “Rivian’s deceptive public statements and flawed enterprise practices,” had been dismissed.
When she spoke as much as human assets about “the boys’ membership tradition and gender discrimination she was experiencing from a C-level government, Rivian abruptly fired her,” the assertion reads.
In a single excerpt on the weblog, Schwab wrote:
Rivian publicly boasts about its tradition, so it was a crushing blow once I joined the corporate and virtually instantly skilled a poisonous bro tradition that marginalizes ladies and contributes to the corporate making errors. I raised issues to HR concerning the gender discrimination from my supervisor, the “boys membership” tradition, and the impression it was having on me, my workforce, and the corporate. Two days later, my boss fired me.
The grievance comes as Amazon-backed Rivian prepares to change into a publicly traded firm in one of the crucial anticipated debuts of the 12 months. A current regulatory submitting confirmed Rivian hoped to boost up $8.4 billion in its preliminary public providing. The corporate plans to supply 135 million shares at a value between $57 and $62. Underwriters even have an possibility to purchase as much as 20.25 million further shares. If underwriters train that possibility, Rivian would elevate as a lot as $9.6 billion.
Based mostly on the variety of excellent shares, that may put its market valuation at about $53 billion. If worker inventory choices and different restricted shares are thought of, Rivian’s valuation could possibly be as excessive as $60 billion. Rivian filed October 1 to change into a publicly traded firm in the US.