EVLV - Evolv Technologies Holdings Inc. (EVLV) Investigation: Bronstein Gewirtz & Grossman LLC Encourages Investors to Seek Compensation for Alleged Wrongdoings

NEW YORK, NY / ACCESSWIRE / February 21, 2024 / 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 November 2, 2022, BBC News reported that, despite Evolv's claims that its AI-based weapons-detection technology "reliably detect[ed] guns, improvised explosives, and large knives," "documents shared with BBC News by research firm IVPM suggests that they may fail to detect certain types of knives, as well as some bombs and components." BBC further reported that, according to a private report obtained by IPVM, Evolv's ability to detect large knives scored just 1.3 out of 3 and "in 24 walkthroughs, Evolv Express failed to detect large knives 42% of the time." On this news, Evolv's stock price fell $0.24 per share, of 8.19%, over the following two trading sessions, to close at $2.69 per share on November 3, 2022.

Then, on February 19, 2024, Evolv issued a press release "[p]roviding an update on a request received from the U.S. Securities and Exchange Commission (SEC). Specifically, 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, Evolv's stock price fell $0.82 per share, or 15.68%, to close at $4.41 per share on February 20, 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 law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 332-239-2660.

There is No Cost to You

We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys' fees, usually a percentage of the total recovery, only if we are successful.

Why Bronstein, Gewirtz & Grossman:

Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide.

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Contact:

Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
332-239-2660 | info@bgandg.com

SOURCE: Bronstein, Gewirtz & Grossman, LLC