US prosecutors have charged two Volkswagen engineers, Michael Stamp and Marcus Plank, with securities fraud over alleged insider trading linked to Volkswagen’s joint venture with Rivian. The case matters because it concerns confidential information about a major electric-vehicle partnership and highlights enforcement against trading that may disadvantage ordinary investors.

The indictment alleges that the engineers bought Rivian shares and options after learning of the planned venture, codenamed Project Climb, but before it was announced on 25 June 2024. Rivian’s share price rose 23% after the announcement; prosecutors say Stamp made about $250,000, Plank about $50,000, and a family member about $12,000. The joint venture, originally backed by a $5 billion Volkswagen commitment and now valued at $5.8 billion, focuses on EV architecture and software; both men were arrested in San Jose and could face up to 25 years in prison if convicted.