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Evolv Technologies Holdings, Inc. Class Action Lawsuit Alert

Evolv Technologies Holdings, Inc., trading under NASDAQ ticker EVLV, is currently under the spotlight following a class action securities lawsuit announced by the law firm Levi & Korsinsky, LLP. This legal action is aimed squarely at investors who have faced losses due to alleged securities fraud that occurred between August 19, 2022, and October 30, 2024.

Background of the Case

The class action lawsuit has been initiated to recover losses sustained by investors who may have been misled by the company’s financial statements during the stated period. The complaint alleges that Evolv Technologies made false representations and failed to disclose critical information about its financial practices, particularly concerning revenue recognition. Specifically, it claims that there were notable discrepancies in the reported financial metrics that resulted from improper revenue recognition methods.

Key Allegations

According to the details provided in the filed complaint, the alleged fraudulent activities revolve around the company’s handling of sales data. Defendants are accused of making inaccurate statements regarding the company’s financial health and sales growth. Notably, it was highlighted that Evolv’s actual sales were influenced by undisclosed contractual terms that were not made available to the company's accounting team, leading to a misrepresentation of revenue.

Furthermore, the lawsuit points to misconduct among Evolv personnel, particularly concerning dealings with a major channel partner, which contradicted the company's claims of 'growing momentum' and 'continued traction' in the market. These actions have raised serious concerns about the integrity of the company’s operational practices and the accuracy of the financial data shared with investors.

Next Steps for Investors

For those who believe they have been adversely affected by Evolv Technologies’ misrepresentations, the law firm Levi & Korsinsky urges you to act promptly. Affected investors have until December 31, 2024, to request the court to appoint them as lead plaintiffs in the lawsuit. It is important to note that participating in this class action does not require individuals to serve as lead plaintiffs; they can still benefit from any recovery awarded to the class.

No Financial Burden to Participants

One of the most significant aspects of this class action lawsuit is that there will be no financial cost to the participants wishing to join. Aggrieved investors can seek compensation without the need to incur out-of-pocket expenses, making it an accessible option for those potentially affected by the company’s alleged wrongdoing.

Why Choose Levi & Korsinsky?

Levi & Korsinsky, with two decades of experience in securities litigation, has built a formidable reputation for securing favorable outcomes for shareholders. The firm prides itself on its history of winning complex cases, with over 70 dedicated professionals working to represent and serve the interests of its clients. For seven consecutive years, the firm has been recognized in ISS Securities Class Action Services' Top 50 Report among leading securities litigation firms in the U.S.

Contact Information

Investors wanting to learn more or to participate in this class action lawsuit can reach out directly to Levi & Korsinsky at:

• - Email: [email protected]
• - Phone: (212) 363-7500
• - Address: 33 Whitehall Street, 17th Floor, New York, NY 10004

In conclusion, affected investors are encouraged to explore their options in this significant class action lawsuit against Evolv Technologies Holdings, Inc. It’s vital to take proactive steps to safeguard your investments and seek the justice owed to you. Stay informed and make your voice heard in this pivotal legal matter.