Enovix Corporation is under investigation over potential securities laws violations in connection with certain financial statements.

Investors who purchased shares of Enovix Corporation (NASDAQ: ENVX), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on whether a series of statements by Enovix Corporation regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Fremont, CA based Enovix Corporation designs, develops, and manufactures lithium-ion batteries. On October 3, 2023, Enovix Corporation issued a press release "announc[ing] that it has initiated a strategic realignment of Fab1 in Fremont designed to refocus the facility from a manufacturing hub to its 'Center for Innovation,' focused on new product development." Enovix stated that "[s]hifting Fab1's focus will result in a reduction of the workforce in Fremont that had been dedicated to supporting 24/7 manufacturing by approximately 185 personnel, including over 125 contractors. Enovix expects this restructuring to be completed during the fourth quarter of 2023 and result in annualized savings of approximately $22 million."

Shares of Enovix Corporation (NASDAQ: ENVX) declined from $13.25 per share on September 29, 2023, to $9.44 per share on October 03, 2023.

Those who purchased shares of Enovix Corporation (NASDAQ: ENVX) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.