--- title: "Two Former Volkswagen Engineers Arrested for Rivian Insider Trading" type: "News" locale: "en" url: "https://longbridge.com/en/news/293800832.md" description: "Two former Volkswagen engineers, Michael Stamp and Michael Plank, were arrested for insider trading ahead of VW's $5 billion joint venture with Rivian. They used confidential information to trade Rivian shares before the June 26 announcement, which caused a 23% stock jump. Stamp profited ~$250,000 and Plank ~$50,000, with additional gains by a family member. Charged with conspiracy and securities fraud, they face up to 25 years in prison." datetime: "2026-07-24T21:34:00.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/293800832.md) - [en](https://longbridge.com/en/news/293800832.md) - [zh-HK](https://longbridge.com/zh-HK/news/293800832.md) generator: "portal-rs" --- # 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 electric-vehicle maker an important source of funding. ### Claim 55% Off TipRanks - Unlock powerful investing tools with TipRanks Premium to make smarter, more confident investment decisions - Subscribe to TipRanks Smart Investor Newsletter, and discover new investing opportunities with data-backed stock picks According to the indictment, Stamp made about $250,000 from the trade, while Plank earned roughly $50,000. Prosecutors say Plank also shared the information with a close family member, who made another $12,000. The case became even more serious because of internet searches that were made. Indeed, eight days before the deal was announced, Stamp allegedly searched for "statute of limitations insider trading." Afterward, Plank's family member reportedly searched in German for information about how insider trading is prosecuted. Therefore, those searches may help prosecutors argue that the men understood the legal risk before placing the trades. ## **Damages Trust in the Financial Markets** Unsurprisingly, Manhattan U.S. Attorney Jay Clayton said that using confidential information for personal profit damages trust in the financial markets. He added that insider trading cases should be pursued aggressively because fair markets depend on everyone having access to the same public information. As a result, Stamp and Plank, who both live in San Jose, California, have been charged with conspiracy and securities fraud and could face up to 25 years in prison if convicted on the most serious charges. The two men are expected to appear in federal court in California. The case is being handled in the Southern District of New York under the name U.S. v. Stamp. ## **Is RIVN Stock a Good Buy?** Turning to Wall Street, analysts have a Hold consensus rating on RIVN stock based on seven Buys, six Holds, and four Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average RIVN price target of $17.94 per share implies 13.2% upside potential. (See RIVN Stock Forecast). ### Related Stocks - [RIVN.US](https://longbridge.com/en/quote/RIVN.US.md) - [RVNL.US](https://longbridge.com/en/quote/RVNL.US.md) - [VOW3.DE](https://longbridge.com/en/quote/VOW3.DE.md) - [VWAPY.US](https://longbridge.com/en/quote/VWAPY.US.md) - [VWAGY.US](https://longbridge.com/en/quote/VWAGY.US.md) - [VOW.DE](https://longbridge.com/en/quote/VOW.DE.md) ## Related News & Research - [3 critical things investors overlooked in Rivian's strong Q2](https://longbridge.com/en/news/296069659.md) - [Rivian CFO Claire McDonough disposes of 51,784 shares worth $784,664.32](https://longbridge.com/en/news/296271944.md) - [Volkswagen (XTRA:VOW3) Stock Still Looks Cheap As Risks Weigh On Sentiment](https://longbridge.com/en/news/295898340.md) - [Skoda CEO says VW aims to finalise India partner this year to share risk, drive growth](https://longbridge.com/en/news/296342765.md) - [The Audi S6 Sportback E-tron proves that sedans still matter](https://longbridge.com/en/news/296479772.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**