NEW YORK, March 01, 2023 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Evolv Technologies Holdings, Inc. (“Evolv” or the “Company”) (NASDAQ: EVLV). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.

The investigation concerns whether Evolv and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action]

On November 2, 2022, BBC News reported that, despite Evolv’s claims that its AI-based weapons-detection technology “reliably detect[ed] guns, improvised explosives, and large knives,” “documents shared with BBC News by research firm IVPM suggests that they may fail to detect certain types of knives, as well as some bombs and components.” BBC further reported that, according to a private report obtained by IPVM, Evolv’s ability to detect large knives scored just 1.3 out of 3 and “in 24 walkthroughs, Evolv Express failed to detect large knives 42% of the time.” 

On this news, Evolv’s stock price fell $0.24 per share, of 8.19%, over the following two trading sessions, to close at $2.69 per share on November 3, 2022.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, London, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980

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