#USA #New York #Class Action #Evolv Technologies #Securities Fraud

Evolv Technologies Holdings, Inc. Under Security Fraud Class Action

Evolv Technologies Holdings, Inc. (NASDAQ: EVLV) has found itself at the center of a securities fraud class action lawsuit that could potentially affect many of its shareholders. This legal action, spearheaded by The Gross Law Firm, is aimed at those who purchased shares during a specified period, particularly from August 19, 2022, to October 30, 2024. The firm advises all investors who believe they might be part of this class to reach out before the deadline of December 31, 2024.

Allegations of Financial Misconduct

Recent filings have brought to light serious allegations suggesting that Evolv's financial statements, particularly from the second quarter of 2022 through the second quarter of 2024, contained material inaccuracies. The claims assert that the company failed to accurately disclose details regarding its revenue recognition practices, suggesting misleading practices that inflated the company’s financial performance.

According to the complaint, certain sales—especially those involving one of Evolv's key channel partners—were reported without proper disclosure of extra-contractual terms. These undisclosed conditions allegedly skewed the reported revenue and subsequently misled investors regarding the company's financial health. This contradiction has raised eyebrows about the company's previous assertions regarding