EVLV Investors Have Opportunity to Join Evolv Technologies Holdings, Inc. Fraud Investigation with the Schall Law Firm

PRNewswire 4-Nov-2024 10:40 AM

LOS ANGELES, Nov. 4, 2024 /PRNewswire/ -- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Evolv Technologies Holdings, Inc. ("Evolv" or "the Company") (NASDAQ: EVLV) for violations of the securities laws.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Evolv filed an 8-K with the SEC on October 25, 2024. According to the filing, the Company was forced to "delay filing its Quarterly Report on Form 10-Q for the period ended September 30, 2024." The Company's 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." The Company also disclosed that it had "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."

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at bschall@schallfirm.com.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

CONTACT:

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

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SOURCE The Schall Law Firm