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EVLV.US
id: 959
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.
Case Status
Attorney Investigation
Alleged Offence
Misleading Statements,
Failure to Disclose,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
10/12/2023