Evolv Tech Settled With Investors Over Financial Reporting Failures – How to Claim Your Payout

Court: D. Massachusetts

Case: 1:24-cv-10761

Evolv Technologies EVLV has agreed to settle with investors after admitting to serious lapses in its financial reporting.

The settlement comes less than a year after disclosures about flawed accounting practices sent the stock tumbling.

What Really Happened With Evolv’s Reporting Issues

In October 2024, Evolv revealed that some sales contracts contained extra conditions that were not properly communicated to the accounting team. On top of that, employees failed to follow required reporting protocols—errors that resulted in flawed financial statements.

Following the disclosure, EVLV dropped around 40%, wiping out significant shareholder value.

Investors Push Back—and Sue

Just a week after the announcement, investors filed a lawsuit accusing Evolv of misleading them about its financial integrity and internal controls. They argued that the company’s reporting failures distorted its financial position and misrepresented its growth trajectory.

The Deal That Finally Closed the Chapter

Now, Evolv has agreed to settle the case. While the final terms are still being finalized, affected investors can already begin submitting claims to recover losses. You can check the details and file yours here.