#Class Action #Evolv Technologies #Securities Fraud

Important Class Action Notification for Evolv Technologies Holdings Investors

Investors who have suffered losses in Evolv Technologies Holdings, Inc. (NASDAQ: EVLV) during the class period from August 19, 2022, to October 30, 2024, should be aware of an important announcement from Levi & Korsinsky, LLP. This law firm is notifying shareholders that the deadline to join the class action lawsuit is December 31, 2024. The lawsuit seeks restitution for those affected by alleged securities fraud connected to the Company, which reportedly led to significant financial misstatements.

Understanding the Class Action Lawsuit

The class action focuses on claims made by investors who believe they were misled due to false and/or misleading statements from Evolv Technologies Holdings, Inc. The crux of the case indicates that the Company’s financial statements for the second quarter of 2022 through the second quarter of 2024 contained several inaccuracies. These inaccuracies allegedly involved improper revenue recognition and other key metrics that are pivotal to the Company's financial health.

According to the complaint filed, it is asserted that sales figures reported were incorrect as they included extra-contractual terms not appropriately reported to the accounting teams, leading to inflated revenue figures. As a result, the alleged misconduct purportedly undermined the so-called