Apr. 14 at 1:35 PM
$EVLV settlement status update:
The
$15M settlement has been submitted to the court for final approval.
🔍 What happened:
Evolv went public via SPAC in 2021 claiming its AI weapons detection tech was highly effective. A BBC exposé later showed the system failed to detect common weapons. FTC & SEC investigations followed, then financial restatements for improper revenue recognition.
Oct 25, 2024:
$EVLV collapsed 39.75%. CEO fired. CFO resigned.
Sep 2025:
$15M settlement reached.
Now: Terms submitted to court for final approval.
💰 Est. payout: ~
$0.14/share
📅 Class period: 6/28/2021 – 10/25/2024
If you held
$EVLV during that period, you can submit your claim:
https://11th.com/cases/evolvtechnologies-investor-case