Lead Counsel Encourages Investor Engagement
Investors are encouraged to engage with Lead Counsel, GPM, regarding the ongoing securities class action against Evolv Technologies Holdings, Inc. GPM has been appointed Lead Counsel in this class action pending in the United States District Court for the District of Massachusetts.
Revelations and Stock Movements
In November 2022, a report by IPVM uncovered deceptive marketing tactics by Evolv, which included collusion to conceal test failures at weapons screening. Subsequently, Evolv’s stock plunged by 2.7%.
Further stress ensued in October 2023 when the U.S. Federal Trade Commission probed the Company’s marketing practices, leading to a 13.3% drop in stock price.
In February 2024, Evolv faced even more scrutiny as the U.S. Securities and Exchange Commission initiated a fact-finding inquiry, causing a 15.7% decline in the stock value.
By March 2024, revelations emerged that an independent company, previously thought to have validated Evolv’s technology, denied such claims. This led to a 3.5% decrease in stock price.
The climax occurred in October 2024 when Evolv announced a restatement of financial statements due to improper revenue recognition. This event triggered a whopping 40% decline in stock price.
Stay Informed for Updates
Investors who hold Evolv common stock are advised to contact Charles H. Linehan, Esq. of GPM regarding the case and related claims. Engagement can be through phone at 310-201-9150, Toll-Free at 888-773-9224, or email at shareholders@glancylaw.com.
For the latest updates, follow GPM on social media platforms like LinkedIn, Twitter, and Facebook.
Please note that this press release may be considered Attorney Advertising in some jurisdictions as per the applicable law and ethical rules.
