EVLV INVESTOR ALERT: Bronstein, Gewirtz and Grossman, LLC Announces an Investigation into Evolv Technologies Holdings, Inc. and Encourages Investors to Contact the Firm

PRNewswire 30-Oct-2024 4:00 PM

NEW YORK, Oct. 30, 2024 /PRNewswire/ -- Attorney Advertising-- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Evolv Technologies Holdings, Inc. ("Evolv" or "the Company") (NASDAQ:EVLV). Investors who purchased Evolv securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: bgandg.com/EVLV.

Investigation Details

On October 25, 2024, Evolv filed a Current Report on Form 8-K with the SEC, announcing its "delay filing its Quarterly Report on Form 10-Q for the period ended September 30, 2024." The reason behind the delay is due to "an internal investigation that is focused on the Company's sales practices, including whether certain sales of products and subscriptions to channel partners and end users were subject to extra-contractual terms and conditions that impacted revenue recognition and other metrics, and if so, when senior Company personnel became aware of these issues." In addition, results of the investigation "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." Following this news, Evolv's stock dropped $1.63 per share, or 40%, to close at $2.47 on October 25, 2024.

What's Next?

If you are aware of any facts relating to this investigation or purchased Evolv securities, you can assist this investigation by visiting the firm's site: bgandg.com/EVLV. You can also contact Peretz Bronstein or his client relations manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC: 332-239-2660.

There is No Cost to You

We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys' fees, usually a percentage of the total recovery, only if we are successful.

Why Bronstein, Gewirtz & Grossman

Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide.

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Contact

Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Nathan Miller
332-239-2660 | info@bgandg.com

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