{
Evolv Technologies Holdings, Inc.

Companies

}

FTC Accuses Evolv Technologies of Misleading Claims About AI Security Scanners

Evolv Technologies has reached a settlement with the FTC over misleading claims about its AI-powered security scanners, which were marketed as effective in detecting weapons while ignoring harmless items. The settlement prohibits false advertising and allows certain school customers to cancel contracts. Despite claims of enhancing public safety, the scanners reportedly had a 95% false positive rate and failed to improve accuracy over time, raising concerns about their reliability in critical settings like schools.
zdnet.com
United States Dollar Evolv Technologies Holdings, Inc. USA Peter Criss Eric Adams Samuel Levine Mike Ellenbogen Lina Khan Show more
Regulatory & Legal, News Article
12:00 04.12.2024

evolv technologies to restate financials after misconduct in sales practices

Evolv Technologies Holdings Inc. will restate two years of financial statements following an internal investigation into its sales and revenue accounting practices. The inquiry revealed that sales to major partners involved undisclosed conditions, and misconduct by certain personnel was identified in relation to these transactions.
bloomberg.com
Evolv Technologies Holdings, Inc. USA
Finance & Economy, Press Release
18:08 25.10.2024
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