| COMPANY |
Enovix Corporation |
| COURT |
United States District Court for the Northern District of California |
| CASE NUMBER |
23-cv-00071 |
| JUDGE |
The Hon. Susan Illston |
| CLASS PERIOD |
February 22, 2021 and January 3, 2023 |
| SECURITY TYPE |
Common Stock |
Case Background:
This is a class action lawsuit on behalf of those who purchased or acquired Enovix Corporation (“Enovix”) (NASDAQ: ENVX) common stock (f/k/a Rodgers Silicon Valley Acquisition Corp. prior to July 15, 2021) between February 22, 2021 through January 3, 2023, both dates inclusive (the “Class Period”).
The Complaint against Enovix 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. As a result of Defendants’ wrongful acts and omissions, and the significant decline in the market value of Enovix’s common stock, Enovix’s investors have suffered significant losses and damages.
Current Status of Case:
On July 23, 2024, The Court entered an Order granting in part and denying in part Defendants’ Motion to Dismiss the Second Amended Complaint. This action is in the discovery stage and is ongoing.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jonathan Naji, Esq. (484) 270-1453 or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.