NEW YORK, Feb. 04, 2023 (GLOBE NEWSWIRE) — Pomerantz LLP announces that it has filed a class action lawsuit against certain officers and directors of Enovix Corporation (or Rodgers Silicon Valley Acquisition Corp. (“RSVAC”) (“Enovix”) or the “Company”) ENVX RSVAC))). The Class Action, filed in the U.S. District Court for the Northern District of California and Filed at 23-cv-00372, is brought on behalf of a class consisting of all persons and entities other than the defendants who purchased or otherwise acquired Enovix common stock ( or RSVAC common stock prior to July 15, 2021) between February 22, 2021 through January 3, 2023 (the “Collection Period”). This action is brought on behalf of the class for violations of sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”), 15 USC §§ 78j(b) and 78t(a). and Rule 10b-5 issued by the SEC under 17 CFR §240.10b-5.

If you are a shareholder who purchased or otherwise acquired Enovix common stock or RSVAC during the class action period, you have until March 7, 2023 to ask the court to name you as lead plaintiff in the class action. A copy of the complaint is available at www.pomerantzlaw.com. To discuss this promotion, contact Robert S. Willoughby at newaction@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll-free, ext. 7980. Individuals inquiring by email are asked to provide their mailing address, telephone number and the number of shares purchased.

[Click here for information about joining the class action]

Enovix claims to design, develop and manufacture silicon anode lithium-ion batteries using a proprietary 3D cell architecture, which the company says allows its batteries to achieve higher energy densities. Enovix hopes to customize and supply its batteries to other companies who can then integrate them into their consumer electronics such as wearable smartwatches, VR headsets, laptops, cellphones, etc.