SAN
FRANCISCO, Nov. 12, 2024 /PRNewswire/ -- Schubert
Jonckheer & Kolbe LLP advises Evolv Technologies Holdings, Inc.
investors that the firm is investigating potential legal claims
relating to recently-announced revenue restatements, the CEO's
firing, and possible false statements about the effectiveness of
key company products. Current shareholders are encouraged to
contact the firm.
Evolv is a security technology company that makes AI-based
weapons scanning systems. At relevant times, the company touted the
effectiveness of these products, particularly their purported
ability to detect guns and knives. Investigative reporting later
exposed the company's statements as inaccurate. The U.S. Federal
Trade Commission and U.S. Securities and Exchange Commission have
also opened investigations into the company.
Additionally, on October 25, 2024,
Evolv announced that investors should not rely on the company's
previously issued financial statements from June 2022 onward, which would need to be restated
because certain sales transactions and revenues were prematurely
recognized. Evolv also revealed that its board of directors was
conducting an internal investigation. Evolv reported the matter to
the SEC and then terminated its CEO and President Peter George five days later on October 30, 2024. These disclosures resulted in a
substantial 47% stock price decline.
Based on these facts, the company has also been sued in
securities fraud class action lawsuits. The Schubert
firm is investigating potential wrongdoing by Evolv's officers and
directors in connection with these allegations.
If you own stock in Evolv and wish to obtain additional
information about your legal rights, please visit our website
at https://www.classactionlawyers.com/evolv.
About Schubert Jonckheer & Kolbe LLP
Schubert
Jonckheer & Kolbe represents shareholders, employees, and
consumers in class actions against corporate defendants, as well as
shareholders in derivative actions against their officers and
directors. The firm is based in San
Francisco, and with the help of co-counsel, litigates cases
nationwide.
Contact
Dustin L.
Schubert
Schubert Jonckheer & Kolbe LLP
dschubert@schubertlawfirm.com
Tel: (415) 788-4220
SOURCE: Schubert Jonckheer & Kolbe LLP
View original
content:https://www.prnewswire.com/news-releases/evolv-technologies-holdings-inc-nasdaq-evlv-investor-alert-schubert-jonckheer--kolbe-llp-investigating-potential-shareholder-claims-following-revenue-restatements-ceo-firing-and-other-possible-false-statements-302302537.html
SOURCE Schubert Jonckheer & Kolbe LLP