Robbins LLP reminds EVLV shareholders of this

SAN DIEGO, May 9, 2024 (GLOBE NEWSWIRE) — Robbins LLP reminds investors that a shareholder on behalf of all persons and entities that purchased or otherwise acquired securities of Evolv Technologies Holdings, Inc. (NASDAQ: EVLV) between June filed a class action lawsuit March 28, 2021 and March 13, 2024. Evolv describes itself as a “leader in artificial intelligence (“AI”)-based weapon detection for security clearances.”

For more information, submit a form, email attorney Aaron Dumas, Jr., or call us at (800) 350-6003.

The accusations: Robbins LLP is investigating allegations that Evolv Technologies Holdings, Inc. (EVLV) overstated the effectiveness of its products

On or about July 19, 2021, Evolv entered into a SPAC merger with Newhold Investment Corp. to the stock market. Prior to the SPAC merger, Newhold traded on the NASDAQ under the ticker symbol “NHIC.”

According to the complaint, defendants failed to disclose during the class action period that: (1) Evolv significantly overstated the effectiveness of its products; (2) the lack of effectiveness of Evolv’s products in detecting knives and firearms resulted in an increased risk of undetected weapons entering places such as schools; and (3) Evolv misled the general public, its customers, and its investors about the effectiveness of its products. When the truth came out, Evolv’s stock price plummeted.

What now: You may be eligible to participate in the Evolv Technologies Holdings, Inc. class action lawsuit. Shareholders who wish to serve as lead plaintiffs in the class action must file papers with the Court by May 24, 2024. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. You do not have to be a party to the case to be eligible for compensation. If you choose to take no action, you may remain an absent student. For more information click Here.

All representations are made on a contingency fee basis. Shareholders pay no fees or expenses.

About Robbins LLP: Some law firms issuing notices on this matter do not actually litigate securities class actions. Robbins LLP does. Robbins LLP’s attorneys and staff are recognized leaders in shareholder rights litigation and have been committed since 2002 to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their misconduct pull. Since our inception, we have received over $1 billion for shareholders.

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