EVLV STOCK NEWS: BFA Law filed Securities Fraud Class Action Against Evolv Technologies after Earnings Delay and CEO Termination; Contact the Firm if You Lost Money (NASDAQ:EVLV)

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 lead the case [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] - On October 25, 2024, Evolv announced that its financial statements should not be relied upon due to these misstatements, revealing issues with sales to a major channel partner and misconduct by certain personnel [4] Group 3: Stock Price Impact - Following the announcement of 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: Legal Representation - Bleichmar Fonti & Auld LLP is representing plaintiffs in this case, with no upfront costs for shareholders [6][7] - The firm has a strong track record, having recovered over $900 million from Tesla's Board of Directors and $420 million from Teva Pharmaceutical Industries [8]