Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, Oct. 11, 2023 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Enovix Corporation ("Enovix" or the "Company") (NASDAQ: ENVX) investors that the law firm has initiated an investigation on behalf of investors that lost money on their Enovix stock. Enovix investors are encouraged to contact the firm to discuss their legal rights.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
On October 3, 2023, Enovix made an official announcement regarding a strategic transformation of Fab1 in Fremont. This transformation entails a shift from its current role as a manufacturing hub to becoming the company's 'Center for Innovation,' with a primary focus on developing new products. Enovix further disclosed that this shift would lead to a reduction in the workforce in Fremont, impacting around 185 personnel, including over 125 contractors, who had been dedicated to supporting 24/7 manufacturing. Enovix anticipates completing this restructuring in the fourth quarter of 2023, with expected annualized cost savings of approximately $22 million. Following this news, Enovix's stock experienced a significant decline in value during intraday trading on October 3, 2023.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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