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UBS has downgraded Altus Power from Buy to Neutral following TPG Rise Climate's announcement to acquire the company for $5.00 per share. Despite a recent 24% stock increase, the price target remains at $5.00, with a high likelihood of the deal closing in Q2 2025, supported by major investors.
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.
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.
Evolv Technologies Holdings, Inc.
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ubs downgrades altus power to neutral after tpg rise climate acquisition announcement
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Richard Shapiro
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11:09 10.02.2025
FTC Accuses Evolv Technologies of Misleading Claims About AI Security Scanners
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Peter Criss
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Lina Khan
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12:00 04.12.2024
evolv technologies to restate financials after misconduct in sales practices
18:08 25.10.2024
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