Enovix Corporation

Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of Enovix Corporation (NASDAQ: ENVX) between February 22, 2021 and January 13, 2023, both dates inclusive (the “Class Period”). If you wish to serve as lead plaintiff, you must move the Court no later than March 7, 2023.

If you purchased Enovix securities during the Class Period and would like to join the action, please click “Join This Class Action.”


Class Period:February 22, 2021 through January 3, 2023
If you purchased Enovix securities during Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

Details of the case:

The complaint alleges that, throughout the Class Period, defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts, about Enovix’s business and operations. Specifically, the Defendants overstated Enovix’s ability to produce batteries at scale, touting the Company’s “meaningful progress” in scaling up its manufacturing ability despite its continued technical issues. On November 2, 2022, following the Company’s disclosure of the issues affecting its manufacturing operations, the Company’s stock fell over 44% from its October 31, 2022 closing price. Additionally, this disclosure stated that Enovix was shifting its focus to prioritize its next generation manufacturing lines. Then, on January 3, 2023, Enovix disclosed further issues with both the first generation and next generation production lines. On this news, Enovix shares fell over 41% in intraday trading on January 4, 2023. As a result of defendants’ wrongful acts and omissions, and the significant decline in the market value of Enovix’s common stock, members of the Class have suffered significant damages.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Attorney Advertising. Prior results do not guarantee a similar outcome.


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Company Name: Enovix Corporation
Stock Symbol: ENVX
Class Period: February 22, 2021 through January 3, 2023
Court: United States District Court for the Northern District of California

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