Glancy Prongay Wolke & Rotter LLP Obtains Approval of $15 Million Settlement in Evolv Technologies Securities Class Action
Tue 29th Sep 2026 | Posted by Melissa Wright, on News
Glancy Prongay Wolke & Rotter LLP obtained approval of a $15 million securities settlement on behalf of investors in Evolv Technologies Holdings, Inc. f/k/a NewHold Investment Corp. (NASDAQ: EVLV). The Honorable Allison D. Burroughs, United States District Judge of the District of Massachusetts, entered judgment approving the settlement on September 24, 2026, following a settlement fairness hearing held that day.
Glancy Prongay Wolke & Rotter LLP served as Court-appointed Lead Counsel for the Settlement Class, with Andrews DeValerio LLP served as Liaison Counsel, and The Law Offices of Frank R. Cruz served as additional counsel for plaintiffs. The action was brought on behalf of Court-appointed lead plaintiff Robert Falk and named plaintiffs Chris Williams, Tim R. Carrillo, and Chris Swanson.
Case Snapshot
The Settlement Class
The Court certified, for settlement purposes, a Settlement Class consisting of all persons and entities that purchased and/or otherwise acquired the publicly traded common stock of Evolv between June 28, 2021 and October 25, 2024, both dates inclusive, and/or purchased or otherwise acquired Evolv common stock pursuant to the registration statement issued in connection with Evolv’s July 2021 business combination with NewHold Investment Corp., and who were damaged thereby. Certain persons and entities are excluded from the Settlement Class by definition, including the officers and directors of Evolv and NewHold Investment Corp. during the class period and their immediate families. The full class definition and list of exclusions appear in the Court-approved Notice.
The Allegations
The litigation concerned allegedly false and misleading statements by Evolv and certain officers and directors of Evolv and NewHold Investment Corp. The statements concerned the effectiveness of the Company’s flagship product, Evolv Express; the Company’s use of extra-contractual terms and conditions in certain arrangements with customers and channel partners; and the Company’s financial metrics and compliance with generally accepted accounting principles (GAAP). Plaintiffs asserted claims under the Securities Exchange Act of 1934 and the Securities Act of 1933.
Plaintiffs alleged the truth emerged through a series of disclosures between May 2023 and October 2024. On October 25, 2024, Evolv announced its Board of Directors had determined that the Company’s previously-issued financial statements for fiscal years 2022 and 2023, and for certain interim periods from 2022 through June 30, 2024, should no longer be relied upon because of revenue misstatements. The complaint also included allegations based on the Federal Trade Commission’s resolution of its inquiry into certain of Evolv’s marketing practices.
The settlement resolves all claims asserted against Evolv and the individual named defendants. Defendants have denied and continue to deny the allegations. The settlement is not an admission of liability by any defendant, and the Court’s judgment makes no finding of wrongdoing.
Claims Deadline
The deadline for Settlement Class Members to submit a claim form was August 12, 2026. The Notice, the Court’s judgment, and other information about the settlement are available at www.EvolvTechSecuritiesSettlement.com.
Frequently Asked Questions
Who was eligible to recover from the Evolv Technologies securities settlement?
Investors who purchased or otherwise acquired Evolv Technologies Holdings, Inc. publicly traded common stock between June 28, 2021 and October 25, 2024, inclusive, or who acquired Evolv common stock pursuant to the registration statement issued in connection with the July 2021 business combination with NewHold Investment Corp., and who were damaged as a result, are Settlement Class Members, subject to the exclusions in the Court-approved Notice.
How much was the Evolv Technologies securities settlement?
The settlement is $15,000,000 in cash, obtained by Glancy Prongay Wolke & Rotter LLP as Court-appointed Lead Counsel and approved by the U.S. District Court for the District of Massachusetts on September 24, 2026.
What was the deadline to file a claim?
The deadline for Settlement Class Members to submit a claim form was August 12, 2026. Information about the settlement remains available at www.EvolvTechSecuritiesSettlement.com.
What did the lawsuit allege?
Plaintiffs alleged that Evolv and certain current and former officers and directors of Evolv and NewHold Investment Corp. made false and misleading statements regarding the effectiveness of Evolv Express, the Company’s use of extra-contractual terms and conditions with customers and channel partners, and the Company’s financial metrics and GAAP compliance. Defendants have denied and continue to deny the allegations, and the Court’s judgment makes no finding of wrongdoing.
About Glancy Prongay Wolke & Rotter
Glancy Prongay Wolke & Rotter LLP is a national law firm representing investors and consumers in complex litigation, with a practice concentrated in securities class actions and shareholder litigation. The firm is headquartered in Los Angeles.
Contact
Casey E. Sadler, Esq.
Glancy Prongay Wolke & Rotter LLP
1925 Century Park East, Suite 2100
Los Angeles, CA 90067
(310) 201-9150 | settlements@glancylaw.com
The case is In re Evolv Technologies Holdings, Inc. Securities Litigation, Case No. 1:24-cv-10761-ADB (D. Mass.).