Evolv announces resolution of FTC inquiry

Evolv (EVLV) Technology announced that it has resolved the United States Federal Trade Commission’s inquiry into certain aspects of the company’s prior marketing claims. While Evolv disagrees with the FTC’s allegations, and has not admitted any wrongdoing, it has chosen to resolve the matter to focus on its core mission of protecting lives through innovation and maintaining the trust of its valued customers. “We worked collaboratively with the FTC to resolve this matter and are pleased that the FTC did not challenge the fundamental effectiveness of our technology and that the resolution does not include any monetary relief. We appreciated the opportunity to demonstrate for the FTC our Evolv Express system and our customers’ diligence in researching, testing and ultimately deploying our solution in myriad environments,” said Mike Ellenbogen, Interim President and CEO of Evolv Technology. “Our top priority is the safety of people and the communities we serve. To be clear, this inquiry was about past marketing language and not our system’s ability to add value to security operations.” “This resolution allows us to focus on a small segment of our school customers to ensure they remain satisfied with Express and allows us to move forward without distraction, continuing our important work to help protect our communities,” continued Ellenbogen.