Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces the Filing of a Securities Class Action on Behalf of Evolv Technologies Holdings, Inc. (EVLV) Investors

Glancy Prongay & Murray LLP (“GPM”), a leading national shareholder rights law firm, announces that a class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Evolv Technologies Holdings, Inc. f/k/a NewHold Investment Corp. (“Evolv” or the “Company”) (NASDAQ: EVLV) securities between June 28, 2021 and March 13, 2024, inclusive (the “Class Period”). Evolv investors have until May 24, 2024 to file a lead plaintiff motion.

If you suffered a loss on your Evolv investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/Evolv-Technologies-Holdings-Inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at [e-mail] to learn more about your rights.

On November 2, 2022, IPVM published a report detailing Evolv’s “deceptive marketing and colluding with NCS4, a public entity, to hide test results showing failures at weapons screening.” That same day, BBC published an article alleging that, despite Evolv’s claims that its AI scanners can detect all weapons, “they may fail to detect certain types of knives, as well as some bombs and components.” Further, the article reported that a previous National Center for Spectator Sports Safety and Security (“NCS4”) report had been manipulated by Evolv employees, including deleting a reference to the system being incapable of detecting every knife. On this news, Evolv’s stock price fell $0.08, or 2.7%, to close at $2.85 per share on November 2, 2022, thereby injuring investors.

Then, on May 23, 2023, BBC News reported that a student was attacked with a 9-inch long knife that had gone undetected by the Evolv weapons scanner at his school. The attacked triggered an internal investigation by the school district, which determined that “the Evolv Weapon Detection system… was not designed to detect knives.” On this news, Evolv’s stock price fell $0.45, or 7.6%, to close at $5.50 per share on May 23, 2023.

Then, on October 12, 2023, Evolv disclosed that the U.S. Federal Trade Commission requested information about “certain aspects” of the Company’s “marketing practices.” On this news, Evolv’s stock price fell $0.58, or 13.3%, to close at $3.77 per share on October 12, 2023.

Then, on February 20, 2024, Evolv disclosed that the U.S. Securities and Exchange Commission (“SEC”) notified the Company that the SEC was initiating a “non-public, fact finding inquiry.” On this news, Evolv’s stock price fell $0.82, or 15.7%, to close at $4.41 per share on February 20, 2024.