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$VXIT LOL 5 Shareholder Suits Against Evolv

Five law firms have announced investigations of Evolv Technologies over alleged violations of securities law, claiming Evolv misled investors over the capabilities of its "weapons detectors." The firms are seeking shareholders that may have lost money, or whistleblowers, in order to potentially bring lawsuits against Evolv.

Class Action Filed Against Evolv Technologies Holdings, Inc. (EVLV) - May 24, 2024 Deadline to Join - Contact Levi & Korsinsky

CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Evolv Technologies investors who were adversely affected by alleged securities fraud between June 28, 2021 and March 13, 2024. Follow the link below to get more information and be contacted by a member of our team:

https://zlk.com/pslra-1/evolv-technologies-holdings-inc-lawsuit-submission-form?prid=73361&wire=4

EVLV investors may also contact Joseph E. Levi, Esq. via email at jlevi @Awiz3.

CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (1) Evolv materially overstated the efficacy of its products; (2) the lack of effectiveness of Evolv's products with regard to detecting knives and guns led to an increased risk of undetected weapons entering locations such as schools; (3) Evolv deceived the general public, its customers, and its investors regarding the effectiveness of its products; and (4) as a result, defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

WHAT'S NEXT? If you suffered a loss in Evolv Technologies during the relevant time frame, you have until May 24, 2024 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate. https://www.prnewswire.com/news-releases/class-action-filed-against-evolv-technologies-holdings-inc-evlv---may-24-2024-deadline-to-join--contact-levi--korsinsky-302103919.html

EVOLV TECHNOLOGIES HOLDINGS, INC. SHAREHOLDER ALERT: Bernstein Liebhard LLP Announces that a Securities Class Action Lawsuit Has Been Filed Against Evolv Technologies Holdings, Inc. f/k/a NewHold Investment Corp. (NASDAQ: EVLV)
March 26, 2024 14:30 ET
| Source: Bernstein Liebhard LLP

NYC mayor Eric Adams wants to test Evolv’s gun-detection tech in subway stations—despite the company saying it’s not designed for that environment
The comparison of safety in NYC to that in Disney World apparently helped to persuade the Adams team. A couple of weeks later, Evolv’s technology was used to screen visitors in a city-run Bronx hospital, where a man had been shot inside the emergency room in January 2022. This wasn’t very successful—the scanners produced false positives 85 percent of the time during the seven-month pilot.

If Evolv’s accuracy in a hospital was low, its accuracy in NYC subway stations may be worse. In an investor call on March 15, 2024, Peter George, the company’s CEO, admitted that the technology was not geared toward subway stations. “Subways, in particular, are not a place that we think is a good use case for us,” George said, due to the “interference with the railways.”




NEW YORK, March 26, 2024 (GLOBE NEWSWIRE) -- Bernstein Liebhard LLP:

Do you, or did you, own shares of Evolv Technologies Holdings, Inc. (NASDAQ: EVLV)?

Did you purchase your shares between June 28, 2021 and March 13, 2024, inclusive?

Did you lose money in your investment in Evolv Technologies Holdings, Inc.?

Do you want to discuss your rights?
Bernstein Liebhard LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or acquired the securities of Evolv Technologies Holdings, Inc. f/k/a NewHold Investment Corp. (“Evolv” or the “Company”) (NASDAQ: EVLV) between June 28, 2021 and March 13, 2024, inclusive (the “Class Period”). The lawsuit was filed in the United States District Court for the District of Massachusetts and alleges violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).

If you purchased or acquired Evolv securities, and/or would like to discuss your legal rights and options please visit Evolv Technologies Holdings, Inc. Shareholder Class Action Lawsuit or contact Investor Relations Manager Peter Allocco at [phone] or [e-mail].

According to the Complaint, Defendants failed to disclose to investors that: (1) Evolv materially overstated the efficacy of its products; (2) the lack of effectiveness of Evolv’s products with regard to detecting knives and guns led to an increased risk of undetected weapons entering locations such as schools; and (3) Evolv deceived the general public, its customers, and its investors regarding the effectiveness of its products.

On February 20, 2024, before the market opened, Evolv stated in a Form 8-K filed with the SEC that “on Friday, February 16, 2024 the SEC notified the Company it was initiating an investigation that was described as a confidential ‘non-public, fact finding inquiry.’” On this news, which is alleged to be related to the Evolv’s technology, the price of Evolv stock fell by $0.82 per share, or 15.67%, to close at $4.41 on February 20, 2024.

On March 13, 2024, the BBC released an article entitled “AI weapons scanner backtracks on UK testing claims” (the “Article”). Among other things, the Article stated that “[t]he company had said that its AI weapons scanner had been tested by the UK Government’s National Protective Security Authority (NPSA)[.] . . . On 20 February the company put out a press release, including a claim that the NPSA was one of a number of testers who had ‘concluded that the Evolv Express solution was highly effective at detecting firearms and many other types of weapons’. But BBC News can reveal the NPSA does not do this type of testing.”

On this news, Evolv’s stock price declined by $0.13 per share, or over 3%, to close at $3.57 per share on March 13, 2024.

If you wish to serve as lead plaintiff, you must move the Court no later than May 24, 2024. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.

If you purchased or acquired Evolv securities, and/or would like to discuss your legal rights and options please visit Evolv Technologies Holdings, Inc. Shareholder Class Action Lawsuit or contact Investor Relations Manager Peter Allocco at [phone] or [e-mail].