BOSTON, Jan. 06, 2023 (GLOBE NEWSWIRE) — Block & Leviton LLP (www.blockleviton.com), a national securities litigation firm, announces that it has filed a class action lawsuit against Enovix Corp. on behalf of shareholders. ENVX and certain of its executives for securities fraud. The complaint was filed in the US District Court for the Northern District of California and is captioned Twitchell vs Enovix Corp.No. 23-cv-00071 (ND Cal.) and is being submitted on behalf of investors involved in their purchases of Enovix Corp. common stock. between February 22, 2021 and January 3, 2023 inclusive.

A class has not yet been certified and until certification you will not be represented by an attorney. If you don’t do anything, you can remain absent.

Investors who purchased shares in Enovix Corp. between February 22, 2021 and January 3, 2023. and have lost money, it is strongly recommended that you email Block & Leviton’s attorneys at (617) 398-5600 cases@blockleviton.comor visit our website for information on the case.

The deadline for appointment as Lead Plaintiff is March 7, 2023.

Why is?

Enovix designs, develops and manufactures silicon anode lithium-ion batteries using a proprietary 3D cell architecture that the company claims allows its batteries to achieve higher energy densities. On July 15, 2021, Enovix became a public company through a merger with a special purpose vehicle (“SPAC”) after being acquired by Rodgers Silicon Valley Acquisition Corp. on July 14, 2021. (“RSVAC”) had been acquired.

When Enovix went public, the company’s single production line was plagued by defects and technical issues that prevented Enovix from manufacturing its batteries on a large scale, although then-CEO Harrold Rust stated that the company was focusing on production for “mass-market applications.” ” focus.”

Throughout the class action lawsuit, the defendants have overstated Enovix’s ability to manufacture batteries at scale and the…