Enovix Investors Advance Battery Production Suit on Second Try

Enovix Corp. investors can proceed with allegations that the battery developer misrepresented its progress in equipping its first factory, a federal court said after rejecting an earlier version of the complaint.

But the investors didn’t adequately allege that other statements were false and misleading, Judge Susan Illston said Tuesday, narrowing the proposed class action. The case, pending in the US District Court for the Northern District of California, centers around a series of stock selloffs that includes Enovix’s biggest ever.

Fremont, Calif.-based Enovix designs, develops, and manufactures silicon-anode lithium-ion batteries with high energy density, according to its website. The ...