Press release
Investigation announced for Investors in shares of Enovix Corporation (NASDAQ: ENVX) over possible Violations of Securities Laws
An investigation for investors in Enovix Corporation (NASDAQ: ENVX) shares over potential securities laws violations by Enovix.
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 possible claims on behalf of purchasers of the securities of Enovix Corporation (NASDAQ: ENVX) concerning 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:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, 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, investigations, and/or settlements are not filed/initiated/reached and/or are not 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.
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