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ENOVIX CORPORATION SHAREHOLDER WARNING BY FORMER LOUISIANA

NEW ORLEANS, Jan. 24, 2023 (GLOBE NEWSWIRE) — Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Louisiana Attorney General Charles C. Foti, Jr., are reminding investors that they still have time March 7, 2023 Lead Plaintiff’s Motions in a Securities Class Action Against Enovix Corporation (“the Company”) f/k/a Rodgers Silicon Valley Acquisition Corp. (NasdaqGS: ENVX) if they purchased or otherwise acquired the Company’s stock between February 22, 2021 and January 3, 2023 inclusive (the “Collection Period”), including shares of Rodgers Silicon prior to July 15, 2021. This lawsuit is pending in the United States District Court for the Northern District of California.

What you can do

If you have purchased Enovix stock and would like to discuss your legal rights and how this case may affect you and your right to compensation for your economic loss, you can contact KSF Managing Partner Lewis Kahn toll-free, without obligation and at no cost to you, at 1-877-515-1850 or email ([email protected]) or visit to learn more. If you wish to be a lead plaintiff in this class action lawsuit, you must file a petition with the court March 7, 2023.

About the lawsuit

Football Highlights

Enovix and certain of its officers are alleged to have failed to disclose material information during the Class Period in violation of federal securities laws.

On November 1, 2022, the Company reported its third quarter 2022 financial results and disclosed just $8,000 in recognized earnings that it was reversing its efforts to improve existing manufacturing lines to focus on future manufacturing lines and that it is expected to produce fewer than a million batteries by 2023. The news caused Enovix’s shares to plummet about 44%. Then, on January 3, 2023, the company announced that its second manufacturing facility and future assembly lines would be delayed for several more months due to equipment failures. The news caused Enovix shares to plummet another 41%, causing further damage to investors.

The case is Twitchell v Enovix Corporation, No. 23-cv-00071.

About Kahn Swick & Foti, LLC

KSF, which partners with former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation firms. KSF assists a variety of clients – including public institutional investors, hedge funds, wealth managers and retail investors – in seeking redress for investment losses resulting from corporate fraud or misconduct by public companies. KSF has offices in New York, California, Louisiana and New Jersey.

To learn more about KSF, you can visit www.ksfcounsel.com.

Contact:

Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
[email protected]
1-877-515-1850
1100 Poydras St, Suite 3200
New Orleans, LA 70163

Source

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