Evolv Technologies (EVLV) Prnewswire·2024-12-26 10:45Core 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].