EVLV INVESTOR ALERT

Robbins Geller Rudman & Dowd LLP Announces that Evolv Technologies Holdings, Inc. f/k/a NewHold Investment Corp. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit

Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Evolv Technologies Holdings, Inc. f/k/a NewHold Investment Corp. (NASDAQ: EVLV; EVLVW) publicly traded securities between June 28, 2021 and March 13, 2024, both dates inclusive (the “Class Period”), have until May 24, 2024 to seek appointment as lead plaintiff of the Evolv class action lawsuit. Captioned Raby v. Evolv Technologies Holdings, Inc. f/k/a NewHold Investment Corp., No. 24-cv-10761 (D. Mass.), the Evolv class action lawsuit charges Evolv and certain of Evolv’s top current and former executives with violations of the Securities Exchange Act of 1934.

If you suffered substantial losses and wish to serve as lead plaintiff of the Evolv class action lawsuit, please provide your information here:

https://www.rgrdlaw.com/cases-evolv-technologies-holdings-inc-f-k-a-ne ...

You can also contact attorneys J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at [e-mail]. Lead plaintiff motions for the Evolv class action lawsuit must be filed with the court no later than May 24, 2024.

CASE ALLEGATIONS: Evolv describes itself as a “leader in Artificial Intelligence (‘AI’)-based weapons detection for security screening.” According to the complaint, Evolv went public through a July 19, 2021 special purpose acquisition corporation (SPAC or blank-check company) merger with NewHold Investment Corp.

The Evolv class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Evolv materially overstated the efficacy of its products; (ii) 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; and (iii) Evolv deceived the general public, its customers, and its investors regarding the effectiveness of its products.

The Evolv class action lawsuit further alleges that on November 2, 2022, IPVM released a report entitled “BBC Exposes Evolv with IPVM Research” which stated that: “A BBC report based on 1,000+ pages of documents obtained by IPVM has exposed security screening manufacturer Evolv for deceptive marketing and colluding with NCS4, a public entity, to hide test results showing failures at weapons screening.” On the same day, the complaint further alleges that BBC released an article entitled “Manchester Arena’s weapon scanning tech questioned.” On this news, the price of Evolv stock fell more than 8% over two trading sessions, according to the complaint.