WHY:  New York, NY - (NewMediaWire) - January 9, 2023 - Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of Enovix Corporation (NASDAQ: ENVX) between February 22, 2021and January 3, 2023, both dates inclusive (the “Class Period”). If you wish to serve as lead plaintiff, you must move the Court no later than March 7, 2023.

SO WHAT:  If you purchased Enovix securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT:  To join the Enovix class action, go to https://rosenlegal.com/submit-form/?case_id=10931 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than March 7, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW:  We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE:  The complaint 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. On November 2, 2022, following the Company’s disclosure of the issues affecting its manufacturing operations, the Company’s stock fell over 44% from its October 31, 2022 closing price. Additionally, this disclosure stated that Enovix was shifting its focus to prioritize its next generation manufacturing lines. Then, on January 3, 2023, Enovix disclosed further issues with both the first generation and next generation production lines. On this news, Enovix shares fell over 41% in intraday trading on January 4, 2023. As a result of defendants’ wrongful acts and omissions, and the significant decline in the market value of Enovix’s common stock, members of the Class have suffered significant damages.

To join the Enovix class action, go to https://rosenlegal.com/submit-form/?case_id=10931 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

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Attorney Advertising. Prior results do not guarantee a similar outcome.

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Contact Information:

      Laurence Rosen, Esq.
      Phillip Kim, Esq.
      The Rosen Law Firm, P.A.
      275 Madison Avenue, 40th Floor
      New York, NY 10016
      Tel: (212) 686-1060
      Toll Free: (866) 767-3653
      Fax: (212) 202-3827
      lrosen@rosenlegal.com
      pkim@rosenlegal.com
      cases@rosenlegal.com
      www.rosenlegal.com