Evolv Technologies Faces Class Action Over Misleading Financial Statements

LOS ANGELES, Nov. 13, 2024 /PRNewswire/ — The Schall Law Firm, a respected national firm specializing in shareholder rights litigation, reminds investors about a class action lawsuit against Evolv Technologies Holdings, Inc. (“Evolv” or “the Company”) EVLV. The lawsuit alleges violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 set by the U.S. Securities and Exchange Commission.

Investors who bought Evolv’s securities between August 19, 2022 and October 30, 2024, (the “Class Period”) should reach out to the firm before December 31, 2024, to learn about their options.

If you experienced financial losses as a shareholder, click here to participate.

Investors can also contact Brian Schall at the Schall Law Firm, located at 2049 Century Park East, Suite 2460, Los Angeles, CA 90067. He can be reached at 310-301-3335 for a free discussion about your rights. Additionally, inquiries can be sent via the firm’s website at www.schallfirm.com or via email to bschall@schallfirm.com.

Please note that the class has not yet been certified; therefore, until it is, investors are not represented by an attorney. Those who decide not to take action will become absent class members.

The complaint alleges that Evolv made false and misleading statements regarding its financial health. On October 25, 2024, the Company disclosed that its financial statements from the second quarter of 2022 through the second quarter of 2024 were unreliable due to significant errors in revenue recognition and other metrics. Evolv admitted that some sales, particularly from a major channel partner, involved undisclosed terms that conflicted with their accounting practices and involved misconduct by certain employees. As these facts became public, it became clear that the Company’s statements during the Class Period were inaccurate and misleading, resulting in investor losses once the truth emerged.

Join the case to recover your financial losses.

The Schall Law Firm is known for representing investors globally and focusing on securities litigation and shareholder rights.

This press release might be considered Attorney Advertising under certain legal standards and rules of ethics.

CONTACT:

The Schall Law Firm
Brian Schall, Esq.,
www.schallfirm.com
Office: 310-301-3335
info@schallfirm.com

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SOURCE The Schall Law Firm