Overview

A class action lawsuit has been filed against Evolv Technologies Holdings, Inc. f/k/a NewHold Investment Corp. (“Evolv” or the “Company”) (NASDAQ: EVLV, EVLVW) and certain of the Company’s current and former senior executive officers alleging violations of the Securities Exchange Act of 1934.  The Evolv lawsuit is brought on behalf of all persons and entities who purchased or otherwise acquired publicly traded Evolv securities between June 28, 2021, and March 13, 2024, both dates inclusive (the “Class Period”), and investors have until May 24, 2024, to seek appointment as lead plaintiff of the Evolv class action lawsuit.

Evolv describes itself as a “leader in Artificial Intelligence (‘AI’)- based weapons detection for security screening.  [Its] mission is to make the world a safer and more enjoyable place to live, work, learn, and play.  [It is] democratizing security by making it seamless for facility operators to address the chronic epidemic of escalating gun violence, mass shootings and terrorist attacks in a cost-effective manner while improving the visitor experience.”

The lawsuit alleges that Defendants, throughout the Class Period, made materially false and/or misleading statements and/or failed to disclose that: (1) Evolv materially overstated the efficacy of its products; (2) 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; (3) Evolv deceived the general public, its customers, and its investors regarding the effectiveness of its products; and (4) 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.  When the true details entered the market, the lawsuit claims that investors suffered damages.

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If you purchased or otherwise acquired publicly traded Evolv securities between June 28, 2021 and March 13, 2024, both dates inclusive, and suffered substantial losses, and you wish to serve as lead plaintiff in this lawsuit, we encourage you to submit your information to DiCello Levitt LLP via the form on this page. 

You can also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or at [email protected]. 

The deadline to apply to the Court to serve as a lead plaintiff in the Evolv lawsuit is May 24, 2024.