Berman Tabacco Announces Investigation of Evolv Technologies Holdings, Inc. (EVLV, EVLVW) Concerning Accounting Practices

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].