Workforce Reduction - The company reported a reduction in force involving 40 employees, representing approximately 14% of its workforce, aimed at increasing annualized run rate cash savings[7] - The expected pre-tax charges for the reduction in force are approximately $2.3 million, primarily consisting of $2.0 million in severance obligations[8] - The reduction in force is anticipated to result in approximately $9.0 million of annualized run rate cash savings, excluding potential new hiring costs[8] - The company plans to complete the reduction in force by March 31, 2025[8] Regulatory Matters - The company is undergoing a pending restatement effort and addressing other regulatory matters[6] - Forward-looking statements indicate potential risks and uncertainties that may affect actual results compared to projections[11] - The company does not plan to publicly update or revise any forward-looking statements unless required by law[12] - The press release detailing these updates was issued on January 23, 2025[6] Investment Strategy - The company is focused on pursuing its investment strategy with certain growth opportunities following the workforce reduction[7] - The Chief Executive Officer's prepared remarks were included in the current report as an exhibit[9]

Core Viewpoint - A class action securities lawsuit has been filed against Evolv Technologies Holdings, Inc. for alleged securities fraud affecting investors between August 19, 2022, and October 30, 2024 [2]. Group 1: Lawsuit Details - The lawsuit aims to recover losses for investors who were adversely affected by alleged securities fraud during the specified period [2]. - The complaint alleges that the company's financial statements from Q2 2022 to Q2 2024 contained material misstatements related to improper revenue recognition and other revenue-related metrics [2]. - It is claimed that Evolv's sales, particularly to a major channel partner, were influenced by undisclosed extra-contractual terms, leading to distorted revenue reporting [2]. Group 2: Company Conduct - The lawsuit suggests that contrary to the company's claims of "growing momentum" and "continued traction" with channel partners, there was misconduct involving sales to one of its largest partners [2]. Group 3: Participation Information - Investors who suffered losses during the relevant timeframe have until December 31, 2024, to request appointment as lead plaintiff, although participation in any recovery does not require serving as lead plaintiff [4]. Group 4: Legal Firm Background - Levi & Korsinsky, LLP has a history of securing significant settlements for shareholders and is recognized as one of the top securities litigation firms in the United States [5].

Core Viewpoint - The article discusses a class action lawsuit against Evolv Technologies Holdings, Inc. (NASDAQ: EVLV) due to allegations of false and misleading statements regarding the company's financial performance and revenue recognition practices [2][4]. Group 1: Allegations - The complaint alleges that Evolv's financial statements from Q2 2022 to Q2 2024 contained material misstatements related to improper revenue recognition and other metrics tied to revenue [2]. - It is claimed that sales to one of Evolv's largest channel partners were subject to undisclosed extra-contractual terms, which distorted the reported revenue and metrics during the class period [2]. - Contrary to the company's claims of "growing momentum" and "continued traction," there were allegations of misconduct by company personnel regarding sales to a major channel partner [2]. Group 2: Next Steps for Shareholders - Shareholders who purchased EVLV shares during the specified class period are encouraged to register for updates and monitoring of the case [3]. - The deadline for seeking lead plaintiff status is December 31, 2024, and participation in the case incurs no cost or obligation [3][5]. - The Gross Law Firm, which is handling the case, emphasizes its commitment to protecting investors' rights and ensuring responsible business practices [5].

Core Viewpoint - The article discusses a class action lawsuit against Evolv Technologies Holdings, Inc. (NASDAQ: EVLV) due to allegations of false and misleading statements regarding the company's financial performance and revenue recognition practices during the specified class period [2][4]. Group 1: Allegations - The complaint alleges that Evolv's financial statements from Q2 2022 to Q2 2024 contained material misstatements related to improper revenue recognition and other metrics tied to revenue [2]. - It is claimed that sales to one of Evolv's largest channel partners were subject to undisclosed extra-contractual terms, which distorted the reported revenue and other related metrics during the class period [2]. - Contrary to the company's claims of "growing momentum" and "continued traction," there were allegations of misconduct by company personnel regarding sales to a major channel partner [2]. Group 2: Next Steps for Shareholders - Shareholders who purchased EVLV shares during the class period are encouraged to register for updates and monitoring of the case [3]. - The deadline for shareholders to seek lead plaintiff status is December 31, 2024, with no cost or obligation to participate in the case [3][5]. - The Gross Law Firm, which is handling the case, emphasizes its commitment to protecting investors' rights and ensuring responsible business practices [5].

NEW YORK, Dec. 23, 2024 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of Evolv Technologies Holdings, Inc. (NASDAQ: EVLV).Shareholders who purchased shares of EVLV during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.CONTACT US HERE:https://securitiesclasslaw.com/securities/evolv-technologies-holdings-inc-loss-submission-form-2/?id=117765&from= ...

NEW YORK, Dec. 20, 2024 /PRNewswire/ -- Moore Law, PLLC, a securities and shareholder law firm located on Wall Street, is investigating potential claims against: EVOLV TECHNOLOGIES HOLDINGS INC. (NASDAQ: EVLV). *** Prospective clients must have purchased shares before August 19, 2022 Evolv Technologies Holdings, Inc. is a security technology company that utilizes AI-based screening designed to help create safer experiences. On October 25, 2024, Evolv announced that the Company's financial statements issue ...

NEW YORK, Dec. 20, 2024 /PRNewswire/ -- Pomerantz LLP announces that a class action lawsuit has been filed against Evolv Technologies Holdings, Inc. ("Evolv" or the "Company") (NASDAQ: EVLV). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.The class action concerns whether Evolv and certain of it ...

NEW YORK, Dec. 19, 2024 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP notifies investors in Evolv Technologies Holdings, Inc. ("Evolv Technologies Holdings, Inc." or the "Company") (NASDAQ:EVLV) of a class action securities lawsuit. CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Evolv Technologies Holdings, Inc. investors who were adversely affected by alleged securities fraud between August 19, 2022 and October 30, 2024. Follow the link below to get more information and be contacted by a me ...

NEW YORK, Dec. 16, 2024 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP notifies investors in Evolv Technologies Holdings, Inc. ("Evolv Technologies Holdings, Inc." or the "Company") (NASDAQ: EVLV) of a class action securities lawsuit. CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Evolv Technologies Holdings, Inc. investors who were adversely affected by alleged securities fraud between August 19, 2022 and October 30, 2024. Follow the link below to get more information and be contacted by a m ...

PHILADELPHIA, Dec. 16, 2024 (GLOBE NEWSWIRE) -- Nationally recognized law firm Berger Montague PC informs investors that a lawsuit was filed against Evolv Technologies Holdings, Inc. (“Evolv” or the “Company”) (NASDAQ: EVLV) on behalf of purchasers of EVOLV securities between August 19, 2022 and October 30, 2024, inclusive (the “Class Period”). Investors that suffered losses from EVOLV (NASDAQ: EVLV) investments can follow the link below for more information regarding the lawsuit: CLICK HERE to learn more a ...