Investors who lost money with shares of Evolv Technologies Holdings, Inc. (NASDAQ: EVLV) should contact the Shareholders Foundation in connection with Lawsuit

An investor, who purchased shares of Evolv Technologies Holdings, Inc. (NASDAQ: EVLV), filed a lawsuit in the U.S. District Court for the District of Massachusetts over alleged violations of Federal Securities Laws by Evolv Technologies Holdings, Inc. f/k/a NewHold Investment Corp.

Investors who purchased shares of Evolv Technologies Holdings, Inc. (NASDAQ: EVLV) have certain options and for certain investors are short and strict deadlines running. Deadline: May 24, 2024. NASDAQ: EVLV investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Waltham, MA based Evolv Technologies Holdings, Inc. provides artificial intelligence (AI)-based weapons detection for security screening in the United States and internationally.

On February 19, 2024, Evolv Technologies Holdings, Inc disclosed that the SEC was initiating an investigation into the company described as a confidential "non-public, fact finding inquiry."

On Feb. 20, 2024 Evolv Technologies Holdings, Inc. annoucned that "Metix NDT Ltd, commissioned by Evolv, tested and validated Evolv Express against the NPSA's [the UK Government's National Protective Security Authority] Discriminative Metal Detection Standards."

Then on Mar. 13, 2024, BBC published a report entitled "AI weapons scanner Evolv backtracks on UK testing claims." BBC observed that Evolv Technologies Holdings, Inc. had said that its AI weapons scanner had been tested by the NPSA but, BBC reported that "NPSA does not do this type of testing."
In contrast to Evolv Technologies Holdings, Inc's Feb. 20, 2024 claim that Metix tested and validated Evolv Express, Metix reportedly informed BBC that it was "not correct to say we 'validated' the system".

Shares of Evolv Technologies Holdings, Inc. (NASDAQ: EVLV) declined from $8.05 per share on August 15, 2023, to as low as $3.34 per share on March 19, 2024.

The plaintiff claims that between June 28, 2021 and March 13, 2024, the defendants made materially false and/or misleading statements and/or failed to disclose that Evolv materially overstated the efficacy of its products, that 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, that Evolv deceived the general public, its customers, and its investors regarding the effectiveness of its products, and that as a result, defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all times.

Those who purchased shares of Evolv Technologies Holdings, Inc. (NASDAQ: EVLV) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.