Recent Security Class Actions

Enovix Corporation Common Stock (NASDAQ: ENVX)

36 Days left to seek lead plaintiff status.

Company Name:Enovix Corporation Common Stock
Stock Symbol:NASDAQ: ENVX
Class Period Start:02/22/2021
Class Period End (inclusive):01/03/2023
Filing Deadline:03/07/2023

The Complaint alleges that throughout the Class Period, the Company overstated its production capabilities, touting its “meaningful progress” in scaling up its manufacturing facility and being positioned to deliver batteries ahead of competition, despite its continued manufacturing issues. 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.

Enovix Corporation Common Stock (NASDAQ: ENVX) Claim Form

Name(Required)
Address
Consent(Required)
This field is for validation purposes and should be left unchanged.