Evolv Technologies (EVLV) Newsfilter·2024-12-30 17:58Core Viewpoint - A class action securities lawsuit has been filed against Evolv Technologies Holdings, Inc. for alleged securities fraud affecting investors between August 19, 2022, and October 30, 2024 [2]. Group 1: Lawsuit Details - The lawsuit aims to recover losses for investors who were adversely affected by alleged securities fraud during the specified period [2]. - The complaint alleges that the company's financial statements from Q2 2022 to Q2 2024 contained material misstatements related to improper revenue recognition and other revenue-related metrics [2]. - It is claimed that Evolv's sales, particularly to a major channel partner, were influenced by undisclosed extra-contractual terms, leading to distorted revenue reporting [2]. Group 2: Company Conduct - The lawsuit suggests that contrary to the company's claims of "growing momentum" and "continued traction" with channel partners, there was misconduct involving sales to one of its largest partners [2]. Group 3: Participation Information - Investors who suffered losses during the relevant timeframe have until December 31, 2024, to request appointment as lead plaintiff, although participation in any recovery does not require serving as lead plaintiff [4]. Group 4: Legal Firm Background - Levi & Korsinsky, LLP has a history of securing significant settlements for shareholders and is recognized as one of the top securities litigation firms in the United States [5].