Kevin Plank

Volkswagen Engineers Charged in Rivian Insider Trading

The U.S. Department of Justice has charged two Volkswagen engineers, Michael Stamp and Marcus Plank, with securities fraud for insider trading tied to Volkswagen and Rivian’s joint venture, alleging they profited over $300,000 by buying Rivian stock and options on information about the project codenamed “Project Climb” before public announcement. Investigations note that Stamp and Plank sought illicit advantage despite knowing it was illegal, with Stamp researching insider-trading statutes days before the deal and a relative of Plank inquiring about punishment, as prosecutors underscore that such actions undermine fair markets and investor trust amid Rivian’s 23% stock rise following the announcement and Volkswagen’s investment plans moving up to $5.8 billion.