The DOJ unsealed insider-trading charges against two Volkswagen engineers over Rivian deal information.
Why it matters: The case shows how quickly deal talks can create legal risk for employees with access to sensitive information. It also matters for companies managing confidentiality around major EV partnerships.
- The Justice Department on Friday, July 24, 2026, unsealed an indictment charging Michael Stamp and Marcus Plank with securities fraud.
- Prosecutors say the alleged trading was tied to confidential Volkswagen information about the Rivian-Volkswagen joint venture, internally codenamed Project Climb.
- The DOJ says the two made more than $300,000 in alleged illegal profits - about $250,000 for Stamp and about $50,000 for Plank.
- Volkswagen and Rivian first announced the partnership on June 25, 2024, and later formalized the joint venture in November 2024.
The Justice Department says two Volkswagen engineers are accused of trading Rivian stock on confidential information about the companies' planned partnership and joint venture.
In an unsealed indictment, prosecutors charged Michael Stamp and Marcus Plank with securities fraud tied to alleged insider trading. The DOJ says the pair used nonpublic Volkswagen information about the Rivian-Volkswagen joint venture, which was internally referred to as Project Climb. The department's release says the case was filed in the Southern District of New York.
The DOJ says the alleged profits topped $300,000, with roughly $250,000 attributed to Stamp and about $50,000 to Plank. U.S. Attorney Jay Clayton said: "When people misuse confidential information for their own financial gain, they undermine the principles that allow our markets to function fairly and efficiently."
Volkswagen and Rivian first announced the partnership on June 25, 2024. Rivian's filing said the companies planned an equally controlled joint venture focused on next-generation electrical architecture and software. Volkswagen later described the venture as worth up to $5.8 billion in a November 2024 release. Volkswagen's June 2024 announcement, Rivian's SEC filing, and Volkswagen's November 2024 press release described the deal.
Volkswagen said the matter concerns specific individuals and does not include allegations against the company.
By the numbers
- $300,000+ - Alleged illegal profits the DOJ says the engineers made
- $250,000 - Alleged profits attributed to Stamp
- $50,000 - Alleged profits attributed to Plank
Yes, but: The charges are allegations in an unsealed indictment, not findings of guilt.