Evolv Technologies (EVLV) Sued by Investors After Disclosing SEC Investigation, BBC Report Disputing Company’s Claims - Hagens Berman
With this new federal securities class action, Evolv now faces battles on both the shareholder and regulatory fronts.
- With this new federal securities class action, Evolv now faces battles on both the shareholder and regulatory fronts.
- Investors began to learn the truth on Feb. 19, 2024, when Evolv disclosed that the SEC has opened a “non-public, fact-finding inquiry” into the company.
- The SEC investigation followed a separate probe initiated by the U.S. Federal Trade Commission over allegations that Evolv uses deceptive marketing practices.
- “We are investigating whether Evolv may have deceived investors about the capabilities and effectiveness of Evolv’s technology,” said Reed Kathrein, the Hagens Berman partner leading the firm’s investigation.