EVLV INVESTOR NEWS: Evolv Technologies Investors with Losses May have been Affected by Fraud; Contact BFA Law before Class Action Deadline (Nasdaq:EVLV)

Core Viewpoint - A lawsuit has been filed against Evolv Technologies Holdings, Inc. and certain current and former executives due to alleged material misstatements in financial statements impacting revenue recognition and other metrics [1][3][4] Group 1: Lawsuit Details - The lawsuit is filed under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors in Evolv's securities [2] - The case 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] Group 2: Financial Misstatements - Evolv's financial statements from Q2 2022 to Q2 2024 contained material misstatements regarding revenue recognition [3][4] - The company disclosed that certain sales were subject to extracontractual terms not communicated 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: Legal Representation - Bleichmar Fonti & Auld LLP, a leading law firm in securities class actions, is representing the plaintiffs in this case [7] - The firm operates on a contingency fee basis, meaning there are no upfront costs for shareholders [6]