Berman Tabacco Announces Investigation of Evolv Technologies Holdings, Inc. (EVLV, EVLVW) Concerning Accounting Practices

Globe Newswire 28-Oct-2024 1:59 PM

BOSTON, Oct. 28, 2024 (GLOBE NEWSWIRE) -- Berman Tabacco, a national law firm representing investors, is investigating potential securities law violations by Evolv Technologies Holdings, Inc. ("Evolv" or the "Company") (NASDAQ:EVLV, EVLVW))).

About the Investigation

On October 25, 2024, Evolv filed a Form 8-K with the U.S. Securities and Exchange Commission disclosing that an "ad hoc committee of independent directors (the ‘Committee')" had "commenced an investigation of the Company's sales practices." Further, "the Committee has made a preliminary determination that certain sales, including sales to one of its largest channel partners, were subject to extra-contractual terms and conditions, some of which were not shared with the Company's accounting personnel, and that certain Company personnel engaged in misconduct in connection with those transactions." The Company stated, "[a]s a result of these preliminary findings, the Committee has determined that the accounting for certain sales transactions was inaccurate and that, among other things, revenue was prematurely or incorrectly recognized in connection with financial statements prepared for the periods between the second quarter of 2022 and the second quarter of 2024."

Contact

If you have information concerning this investigation, click here or contact us at 800-516-9926 or law@bermantabacco.com.

About Berman Tabacco

Since 1982, our firm has prosecuted hundreds of securities and antitrust complex cases. The firm and its attorneys have been recognized for their work on behalf of plaintiffs, including by Chambers USA, Benchmark Litigation, which has ranked the firm as Highly Recommended and a Top Plaintiffs Firm, The Legal 500,  Best Lawyers, The Daily Journal, Lawdragon, Who's Who Legal, and Super Lawyers. 

The firm has offices in Boston, Massachusetts and San Francisco, California.

This notice may constitute attorney advertising. 

Contact:

Berman Tabacco
Jay Eng, Esq.
One Liberty Square
Boston, Massachusetts
(800) 516-9926
Email: law@bermantabacco.com