Security Investigation

Enovix Corporation f/k/a Rodgers Silicon Valley Acquisition Corp. (NasdaqGS: ENVX)

37 Days left to seek lead plaintiff status.

Company Name:Enovix Corporation
Stock Symbol:NasdaqGS: ENVX
Court:Northern District of California
Class Period Start:02/22/2021
Class Period End (inclusive):01/03/2023
Filing Deadline:03/07/2023

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(877) 515-1850

Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until March 7, 2023 to file lead plaintiff applications in a securities class action lawsuit against Enovix Corporation (“the Company”) f/k/a Rodgers Silicon Valley Acquisition Corp. (NasdaqGS: ENVX), if they purchased or otherwise acquired the Company’s shares between February 22, 2021 and January 3, 2023, inclusive (the “Class Period”), including shares of Rodgers Silicon prior to July 15, 2021.

Enovix and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws. 

On November 1, 2022, the Company announced its financial results for 3Q2022, disclosing just $8,000 in recognized revenue, that it would be “dialing back” efforts to improve existing manufacturing lines to focus on future manufacturing lines, and that it anticipated producing fewer than one million batteries in 2023. On this news, shares of Enovix plummeted approximately 44%.  Then, on January 3, 2023, the Company disclosed that its second production facility and future manufacturing lines would be delayed by several additional months due to equipment failures. On this news, shares of Enovix plummeted an additional 41%, further damaging investors.

If you purchased shares of Enovix and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or fill out the form on this page.

The case is Twitchell v. Enovix Corporation, No. 23-cv-00071.

Click here to read the first filed complaint.