The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Enovix Corporation (NASDAQ: ENVX) who purchased common stock (or Rodgers Silicon Valley Acquisition Corp. common stock prior to July 15, 2021) from February 22, 2021 through January 3, 2023. The action, which was filed in the United States District Court for the Northern District of California, alleges that the Company violated federal securities laws.
In particular, the Enovix lawsuit alleges that the Company made false and misleading statements to the market. Specifically, Enovix overstated its ability to produce batteries at commercial scale. Despite touting its “meaningful progress” in developing its manufacturing capabilities, Enovix continued to face serious production problems. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period.
Shareholders have until March 7, 2023 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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