The Gross Law Firm notifies investors that a class action has commenced in the United States District Court for the Northern District of California on behalf of shareholders of Enovix Corporation who purchased common stock (or Rodgers Silicon Valley Acquisition Corp. common stock prior to July 15, 2021) between February 22, 2021 and January 3, 2023.
The filed complaint 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.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until March 7, 2023 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.