SAN DIEGO, Feb. 13, 2023 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP is investigating whether Evolv Technologies Holdings, Inc.(“Evolv” or the “Company”) (NASDAQ: EVLV), any of its executive officers, or others violated securities laws by misrepresenting or failing to timely disclose material, adverse information to investors. The investigation focuses on investors' losses and whether they may be recovered under federal securities laws.
What if I purchased Evolv common stock? If you purchased Evolv common stock and suffered significant losses on your investment, join our investigation now:
Click or paste the following web address into your browser to submit your losses:
https://www.cognitoforms.com/JohnsonFistel/EvolvTechnologiesHoldingsInc
Or for more information, contact Jim Baker at jimb@johnsonfistel.com or (619) 814-4471
There is no cost or obligation to you.
What is Johnson Fistel investigating? On November 2, 2022, BBC News released a report on Evolv. BBC News claims that the AI-based weapons-detection technology touted by the Company as effective failed to live up to its build-up. The report claims that "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," adding that "in 24 walkthroughs, Evolv Express failed to detect large knives 42% of the time."
Following this news, Evolv’s stock declined in value.
What if I have relevant nonpublic information? Individuals with nonpublic information regarding the company should consider whether to assist our investigation or take advantage of the SEC Whistleblower program. Under the SEC program, whistleblowers who provide original information may, under certain circumstances, receive rewards totaling up to thirty percent of any successful recovery made by the SEC. For more information, contact Jim Baker at (619) 814-4471 or jimb@johnsonfistel.com.
Contact:
Johnson Fistel, LLP
Jim Baker, Lead Securities Analyst
Telephone: (619) 814-4471
Email: jimb@johnsonfistel.com
