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The move arrives just days after Evolv disclosed an ongoing investigation into the company’s sales practices, warning shareholders to no longer rely on recent financial statements. The board acknowledged this investigation Thursday, but maintained that it had been “evaluating leadership and performance for several months — long before we became aware of any potential issues relating to the Company’s sales practices and financial reporting.
This is far from the first time Evolv has found itself in hot water. The company has faced other legal issues over the years, including separate federal probes into its marketing practices led by the Federal Trade Commission and the Securities Exchange Commission.
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