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id: 959, Created by , Scout

Evolv (EVLV) FTC Marketing Inquiry Case

  • In October, Evolv disclosed getting the FTC's request for certain marketing information.
  • On it, $EVLV fell 13.3%, losing $87M+ shareholder value.
  • Investors may have grounds to suspect Evolv of hiding regulatory setbacks.
On October 12, 2023, Evolv (EVLV) disclosed that the U.S. Federal Trade Commission requested information about “certain aspects” of the Company’s marketing practices.

On this news, $EVLV fell 13.3% and lost over $87 million of its market capitalization, seriously damaging shareholders.

Considering all the information, investors might have grounds to suspect Evolv and its executives of failing to disclose regulatory setbacks, which consequently led to their losses.

The case is already under investigation by at least one of the reputable law firms.
Alleged Offence
Misleading Statements
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
12 October 2023
Collecting participants…

Evolv Technologies Holdings Inc

Evolv Technologies Holdings, Inc. provides artificial intelligence (AI)-based weapons detection for security screening. Its products include Evolv Express, a touchless security screening system des...

    Ticker
    EVLV.US
    ISIN
    US30049H1023
    CIK
    1805385
    Sector
    Industrials
    Industry
    Security & Protection Services
    Country
    USA
    Address
    500 Totten Pond Road, Waltham, MA, United States, 02451