Core Viewpoint - A lawsuit has been filed against Evolv Technologies Holdings, Inc. and certain current and former executives, alleging material misstatements in financial statements related to revenue recognition from Q2 2022 to Q2 2024 [1][2][3]. Group 1: Lawsuit Details - The lawsuit is pending in the U.S. District Court for the District of Massachusetts, captioned Buchan v. Evolv Technologies Holdings, Inc., No. 1:24-cv-12768 [2]. - Investors have until December 31, 2024, to request to be appointed to lead the case [2]. - The complaint asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 [2]. Group 2: Financial Misstatements - Evolv's financial statements from Q2 2022 to Q2 2024 contained material misstatements regarding revenue recognition and other metrics [3]. - The company revealed that certain sales were subject to extracontractual terms not disclosed to accounting personnel, and misconduct was involved in these transactions [4]. Group 3: Stock Price Impact - Following the announcement of the financial misstatements, Evolv's stock price dropped approximately 40%, from $4.10 on October 24, 2024, to $2.47 on October 25, 2024 [4]. - After the termination of CEO Peter George on October 31, 2024, the stock price fell about 8%, from $2.34 on October 30, 2024, to $2.15 on October 31, 2024 [5]. Group 4: Company Background - Evolv Technologies is a security technology company that utilizes AI-based screening to enhance safety [3]. - The company has self-reported issues to the SEC and is delaying its upcoming quarterly report for Q3 2024 [4].

Core Viewpoint - A class action lawsuit has been filed against Evolv Technologies Holdings, Inc. due to allegations of misleading investors regarding revenue recognition and material misstatements in financial statements [1][2]. Group 1: Allegations and Financial Impact - Evolv Technologies announced on October 25, 2024, that its financial statements from Q2 2022 to Q2 2024 should not be relied upon due to material misstatements affecting revenue recognition [2]. - The company disclosed that certain sales, particularly to a major channel partner, involved undisclosed extra-contractual terms and conditions, leading to misconduct by some personnel [2]. - Following this announcement, Evolv's stock price plummeted approximately 40%, dropping from $4.10 per share on October 24, 2024, to $2.47 per share on October 25, 2024 [2]. Group 2: Class Action Participation - Shareholders who wish to serve as lead plaintiffs in the class action must submit their applications by December 31, 2024 [3]. - Participation in the case is not required to be eligible for recovery; shareholders can remain absent class members if they choose [3]. Group 3: Legal Representation - Robbins LLP operates on a contingency fee basis, meaning shareholders incur no fees or expenses unless the case is won [4]. - Robbins LLP is recognized for its commitment to shareholder rights litigation and has recovered over $1 billion for shareholders since its inception [5].

Core Viewpoint - Evolv Technologies Holdings, Inc. is under investigation for potential violations of federal securities laws following a significant drop in its stock price due to an internal investigation revealing material misstatements in revenue recognition dating back to 2022 [1][2]. Group 1: Company Financials - On October 25, 2024, Evolv Technologies announced a delay in filing its quarterly financial report due to the internal investigation [1]. - The investigation revealed that certain financial statements from 2022 to mid-2024 should not be relied upon, as undisclosed terms in sales to channel partners affected reported revenue [1]. Group 2: Stock Performance - The announcement led to a drastic decline in Evolv's stock price, which fell by more than 40% during trading on October 25, 2024 [2]. Group 3: Legal Implications - Bleichmar Fonti & Auld LLP is encouraging investors in Evolv Technologies to seek additional information regarding potential legal options [2].

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Company Investigation - Leading securities law firm Bleichmar Fonti & Auld LLP is investigating Evolv Technologies Holdings Inc (NASDAQ: EVLV) for potential violations of federal securities laws [1] - The investigation follows Evolv's announcement of a delay in filing its quarterly financial report due to material misstatements in revenue recognition dating back to 2022 [1] - Evolv disclosed that certain financial statements from 2022 to mid-2024 should not be relied upon due to undisclosed terms in sales to channel partners, including one of its largest partners [1] Stock Performance - Evolv's stock price declined more than 40% during trading on October 25, 2024, following the announcement of the financial reporting issues [2] Legal Representation - Bleichmar Fonti & Auld LLP is a leading international law firm specializing in securities class actions and shareholder litigation [3] - The firm has achieved notable successes, including recovering over $900 million from Tesla Inc's Board of Directors and $420 million from Teva Pharmaceutical Ind Ltd [3] - BFA was named among the Top 5 plaintiff law firms by ISS SCAS in 2023 and its attorneys have been recognized by Law360 and Thompson Reuters [3]

Core Viewpoint - Berman Tabacco is investigating potential securities law violations by Evolv Technologies Holdings, Inc. following the company's disclosure of an internal investigation into its sales practices [1][2]. Investigation Details - On October 25, 2024, Evolv filed a Form 8-K with the U.S. Securities and Exchange Commission, revealing that an independent committee has started investigating the company's sales practices [2]. - The committee found that certain sales, particularly to a major channel partner, involved extra-contractual terms not disclosed to the accounting team, indicating potential misconduct by company personnel [2]. - Preliminary findings suggest that the accounting for specific sales transactions was inaccurate, with revenue being prematurely or incorrectly recognized in financial statements from Q2 2022 to Q2 2024 [2].

NEW YORK, Oct. 27, 2024 (GLOBE NEWSWIRE) -- Why: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Evolv Technologies Holdings, Inc. (NASDAQ: EVLV) resulting from allegations that Evolv may have issued materially misleading business information to the investing public. So What: If you purchased Evolv securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fe ...

Core Viewpoint - Evolv Technologies Holdings, Inc. is under investigation for potential violations of federal securities laws following a significant drop in its stock price due to an internal investigation revealing material misstatements in revenue recognition dating back to 2022 [1][2]. Group 1: Company Financial Issues - On October 25, 2024, Evolv Technologies announced a delay in filing its quarterly financial report due to an internal investigation [1]. - The investigation uncovered material misstatements in revenue recognition, indicating that certain financial statements from 2022 to mid-2024 should not be relied upon [1]. - Sales to channel partners, including one of Evolv's largest partners, involved undisclosed terms that impacted reported revenue [1]. Group 2: Stock Market Reaction - Following the announcement, Evolv's stock price declined by more than 40% during trading on October 25, 2024 [2]. Group 3: Legal and Representation Options - Investors in Evolv Technologies are encouraged to seek legal options and submit their information to Bleichmar Fonti & Auld LLP, which operates on a contingency fee basis [2]. - Bleichmar Fonti & Auld LLP is recognized as a leading international law firm specializing in securities class actions and shareholder litigation [2].

NEW YORK, Oct. 26, 2024 /PRNewswire/ -- Why: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Evolv Technologies Holdings, Inc. (NASDAQ: EVLV) resulting from allegations that Evolv may have issued materially misleading business information to the investing public. So What: If you purchased Evolv securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee ar ...

Core Viewpoint - Evolv Technologies Holdings, Inc. experienced a significant decline in share price, dropping over 40% after announcing misconduct related to sales practices and the need to restate financials for a two-year period [1][2]. Group 1: Company Financials and Misconduct - Evolv stated that it would not file its quarterly report on Form 10-Q for the quarter ended September 30, 2024, raising concerns about its financial reporting [2]. - The company made a preliminary determination that certain sales, including those to a major channel partner, were subject to extra-contractual terms and conditions, and that misconduct occurred among certain personnel [2]. - Revenue was found to have been prematurely or incorrectly recognized in financial statements for periods between Q2 2022 and Q2 2024, leading to warnings against relying on financial statements for multiple reporting periods [2]. Group 2: Market Reaction and Investigation - Following the announcement, Evolv's share price plummeted approximately 46% during intraday trading on October 25, 2024 [3]. - Hagens Berman has initiated an investigation into Evolv, focusing on whether the company intentionally misrepresented its financials and the implications of the pending restatements [3].