NEW YORK--(BUSINESS WIRE)--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.
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