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NEW YORK , Dec. 27, 2024 /PRNewswire/ -- Pomerantz LLP announces that a class action lawsuit has been filed against Evolv Technologies Holdings, Inc. ("Evolv" or the "Company") (NASDAQ: EVLV ). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased. The class action concerns whether Evolv and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. You have until December 31, 2024 , to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired Evolv securities during the Class Period. A copy of the Complaint can be obtained a t www.pomerantzlaw.com . [Click here for information about joining the class action] On October 25, 2024 , Evolv issued a press release "announc[ing] that shareholders and others should not rely upon certain of the Company's previously issued financial statements and that it will delay filing its Quarterly Report on Form 10-Q for the period ended September 30 , 2024. The press release disclosed "an internal investigation that is focused on the Company's sales practices, including whether certain sales of products and subscriptions to channel partners and end users were subject to extra-contractual terms and conditions that impacted revenue recognition and other metrics, and if so, when senior Company personnel became aware of these issues" and "determined that the accounting for certain sales transactions was inaccurate and that, among other things, revenue was prematurely or incorrectly recognized in connection with financial statements prepared for the periods between the second quarter of 2022 and the second quarter of 2024." On this news, Evolv's stock price fell $1.63 per share, or 39.76%, to close at $2.47 per share on October 25 , 2024. Then, on October 31, 2024 , Evolv announced the termination of the Company's Chief Executive Officer, Peter George , "effective immediately." The Company announced that Michael Ellenbogen , Evolv's Chief Innovation Officer will serve in an interim role until a successor is appointed. On this news, Evolv's stock price fell $0.19 per share, or 8.12%, to close at $2.15 per share on October 31, 2024 . Pomerantz LLP, with offices in New York , Chicago , Los Angeles , London , Paris , and Tel Aviv , is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz , known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud , breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com . Attorney advertising. Prior results do not guarantee similar outcomes. CONTACT: Danielle Peyton Pomerantz LLP [email protected] 646-581-9980 ext. 7980 SOURCE Pomerantz LLP

Illinois Department of Human Services employees have worked excessive overtime — with one worker more than tripling their annual salary of $66,000 — which could have an adverse effect on people in the department’s care, a state audit released earlier this month found. The Dec. 4 report from Illinois Auditor General Frank Mautino’s office, which covered fiscal years 2021 through 2023, also found that misconduct allegations within IDHS have increased and that the department’s inspector general’s office has been slower to investigate complaints. The report lays out the latest problems for an agency still dealing with fallout from accusations that a downstate mental health center repeatedly covered up staff misconduct amid allegations of abuse and neglect of residents. The report noted that due to a high number of allegations, it’s likely that many of the same issues documented at Choate Mental Health and Developmental Center in Anna exist at other centers. The overtime issues detailed in the report are eye-opening. In fiscal year 2023, IDHS reported that 70% of the more than 7,200 employees at its state-operated facilities had overtime that accumulated a total of 1,606,962 hours. Of those, 330 employees tallied more than 1,000 hours in OT, the audit found. A worker with an annual pay rate of $66,000 logged 3,331 hours in overtime during the fiscal year and collected $227,800 in gross pay during the calendar year, the audit found. Another employee tallied 2,745 of the extra hours and had gross pay of $203,700, well above their calendar year pay rate of $68,400. The auditor general’s office noted that the hours of overtime reported do not necessarily reflect the amount of overtime worked. One reason for that is that there are different rates of overtime pay for holidays. Another is that an employee with seniority can file a grievance after not being offered an overtime shift, and, if successful, collect the extra money without having worked the shift. “However, even when taking these instances into consideration, the amount of overtime being worked by State-operated facility employees appears excessive,” Mautino’s office wrote. The report noted that beyond the fiscal implications, having employees work so many additional hours can have adverse consequences for people in IDHS care. “Multiple academic studies have found that excessive amounts of overtime can have a detrimental effect on the care provided to residents or patients, as well as the health care workers providing the care,” Mautino’s office said. The report also found allegations of wrongdoing within the department, including those involving its mental health and developmental centers and as well as community agencies, have climbed since the COVID-19 pandemic began, and that the department’s inspector general has been taking longer to investigate those claims. The IDHS inspector general’s office received 3,281 allegations during fiscal year 2023 compared with 2,423 in fiscal year 2021, which at that time was the lowest in a decade. But during fiscal year 2023, the watchdog took an average of 205 calendar days to investigate cases, an increase of 25 days during the 2020 fiscal year, according to Mautino’s office. Along with the rise in complaints, there was a slowdown in the time it took the department’s inspector general’s office to complete investigations, the audit found. In fiscal year 2023, only 22% of the IDHS watchdog’s cases were completed within 60 calendar days, an 8% drop from fiscal year 2020 — which covered part of the prior audit of the watchdog — and a 14% decrease when compared with both fiscal years 2021 and 2022, Mautino’s office found. The auditor general also found the IDHS inspector general’s office was slow to fill open positions. From fiscal years 2021 through 2023, the watchdog requested to hire for 38 positions, but as of mid-August 2023, 17 had been filled and 21 were vacant. “(IDHS watchdog) officials stated that multiple bureaus have lost headcount; if there is a lack of investigators, then timeliness worsens and caseloads increase,” Mautino’s office wrote. “According to (IDHS watchdog officials), they are unable to hire investigators fast enough to maintain their headcount.” The audit also addressed the IDHS inspector general’s office’s Quality Care Board, which is supposed to monitor the watchdog to ensure investigations of abuse and neglect are handled properly. The board is supposed to have seven members, appointed by the governor with consent of the Senate, with two of them being a person with a disability or a parent of someone disabled. According to Mautino’s office, the board did not have the required seven members during the audit period and two members were serving on expired terms. “The Board cannot fully function as directed by statute to ‘monitor and oversee the operations, policies, and procedures of the Inspector General with vacancies and neglected membership requirements,” Mautino’s office wrote. Mautino’s office noted an IDHS watchdog directive requiring that office to interview a “complainant and/or required reporter and the victim and/or guardian” within 15 working days of case assignment. But in five of 39 investigations sampled by the auditor that included a victim who was verbal, it took anywhere from 24 to 536 working days to complete the interview. “Conducting interviews quickly is essential in conducting effective investigations. As time passes, victims who have a developmental disability or mental illness may be more likely to forget what happened or be unable to recount what happened accurately,” Mautino’s office wrote. The audit recommended that IDHS ensure all employees at state-operated facilities receive training in prevention and “reporting of abuse, neglect and exploitation” as required by policies and state law. IDHS and its watchdog should work together to identify and resolve bottlenecks in the hiring process and address pay structure imbalances for management positions, Mautino’s office also said. The office also said IDHS should conduct a staffing analysis to determine if staffing levels at the state-run facilities are appropriate. “The staffing analysis should take into consideration the need to reduce excessive amounts of employee overtime, especially for direct care employees,” according to Mautino’s office. In a response to the findings that was included in the audit, IDHS said it’s in the process of reviewing staffing levels at its facilities and noted it has worked to implement changes to the collective bargaining agreements to expedite hiring for certain positions. The agency acknowledged being challenged by retirement and retention issues. The IDHS watchdog, meanwhile, said it has worked closely with IDHS to increase headcount and is in the process of “substantial additional hiring.” “However, it will take time for the new hires to make a noticeable impact on timeliness, as training takes time and significant effort from supervisory staff,” IDHS said, according to Mautino’s office. “(The IDHS watchdog) continuously reviews processes for timeliness improvements and training opportunities.” IDHS also pointed to how its bureau of hotline and intake has seen “a severe shortage” in intake investigators and bureau management due to retirements and significant delays in the hiring process. The agency also acknowledged how staff shortages result in growing backlogs that further affect the ability of the IDHS watchdog to investigate complaints quickly. “Unfortunately, the ongoing staff shortage has persisted as overall calls, including reportable and non-reportable calls, have increased,” IDHS said, according to Mautino’s report. “As of October 2024, (the IDHS watchdog) has six intake investigators, and five unfilled intake investigator positions that are in various stages of the hiring process.” The IDHS watchdog expects an upcoming change in technology will help the inspector general’s office provide better oversight. Next year, for instance, the watchdog will have a new case management system designed to better track and document when an investigator is unable to reach a victim or complainant within the required timeframes. In a statement, IDHS and its inspector general’s office said it accepted the audit’s findings and is “working to implement changes, including the hiring of staff to ensure appropriate staffing levels across all of our programs and offices.” Separately, IDHS last week said it experienced a privacy breach in April when an outside entity, through a phishing campaign, gained access to files that included the Social Security numbers of more than 4,700 customers and three employees. In addition, public assistance account information was accessed for more than a million customers, though that information did not include Social Security numbers. “Upon learning of the phishing incident, IDHS worked in partnership with (the Illinois Department of Innovation and Technology) to investigate the extent of the breach and to determine which individuals were included,” IDHS said in a statement. Read the audit: Get Government & Politics updates in your inbox! Stay up-to-date on the latest in local and national government and political topics with our newsletter.By LARRY NEUMEISTER, Associated Press NEW YORK (AP) — In an angry outburst in a New York courtroom, Rudy Giuliani accused a judge Tuesday of making wrong assumptions about him as he tries to comply with an order requiring him to turn over most of his assets to two election poll workers who won a libel case against him. U.S. District Judge Lewis J. Liman responded by saying he’s not going to let the former New York City mayor and onetime presidential candidate blurt things out anymore in court unless he’s a sworn witness. The interruption to an otherwise routine pretrial hearing in Manhattan came as the judge questioned Giuliani’s lawyer about why Giuliani has not yet provided the title to a car he has relinquished in his effort to satisfy a $148 million defamation judgment won by two former Georgia election workers. “Your client was the U.S. attorney for this district,” the judge said, referring to Giuliani’s years in the 1980s as the head of the federal prosecutor’s office in the Southern District of New York, as he suggested it was hard to believe that Giuliani was incapable of getting a duplicate title to the car. Giuliani learned forward and began speaking into a microphone, telling the judge he had applied for a duplicate copy of the car’s title but that it had not yet arrived. “The implication I’ve been not diligent about it is totally incorrect,” Giuliani said in a scolding tone. “The implication you make is against me and every implication against me is wrong.” Giuliani went on: “I’m not impoverished. Everything I have is tied up. I don’t have a car. I don’t have a credit card. I don’t have cash. I can’t get to bank accounts that truly would be mine because they have put ... stop orders on, for example, my Social Security account, which they have no right to do.” Liman responded by warning defense lawyers that the next time Giuliani interrupts a hearing, “he’s not going to be permitted to speak and the court will take action.” The judge said Giuliani could either choose to represent himself or let lawyers do so, but “you can’t have hybrid representation.” If Giuliani wants to speak in court again, he can be put on the witness stand and be sworn as a witness, Liman added. The exchange came at a hearing in which the judge refused to delay a Jan. 16 trial over the disposition of Giuliani’s Florida residence and World Series rings. Those are two sets of assets that Giuliani is trying to shield from confiscation as part of Liman’s order to turn over many prized possessions to the poll workers. Earlier in the proceeding, defense attorney Joseph M. Cammarata asked Liman to delay the trial, which will be heard without a jury, for a month because of Giuliani’s “involvement” in inauguration planning for President-elect Donald Trump. “My client regularly consults and deals directly with President-elect Trump on issues that are taking place as the incoming administration is afoot as well as (the) inauguration,” Cammarata said. “My client wants to exercise his political right to be there.” The judge turned down the request, saying Giuliani’s “social calendar” was not a reason to postpone the trial. Giuliani, who once served as Trump’s personal attorney, was found liable last year for defaming two Georgia poll workers by falsely accusing them of tampering with ballots during the 2020 presidential election. The women said they faced death threats after Giuliani falsely claimed they sneaked in ballots in suitcases, counted ballots multiple times and tampered with voting machines.

NEW YORK (AP) — Stocks fell broadly on Friday as Wall Street closed out a holiday-shortened week on a down note. The losses were made worse by sharp declines for the Big Tech stocks known as the “Magnificent 7”, which can heavily influence the direction of the market because of their large size. The S&P 500 fell 66.75 points, or 1.1%, to 5,970.84. Roughly 90% of stocks in the benchmark index lost ground, but it managed to hold onto a modest gain of 0.7% for the week. The Dow Jones Industrial Average fell 333.59 points, or 0.8%, to 42,992.21. The tech-heavy Nasdaq composite fell 298.33 points, or 1.5%, to 19,722.03. Semiconductor giant Nvidia slumped 2.1%. Microsoft declined 1.7%. Each has a market value above $3 trillion, giving the companies outsized sway on the S&P 500 and the Nasdaq. A wide range of retailers also fell. Amazon fell 1.5% and Best Buy slipped 1.5%. The sector is being closely watched for clues on how it performed during the holiday shopping season. Energy stocks held up better than the rest of the market, with a loss of less than 0.1% as crude oil prices rose. “There’s just some uncertainty over this relief rally we’ve witnessed since last week,” said Adam Turnquist, chief technical strategist for LPL Financial. The S&P 500 gained nearly 3% over a 3-day stretch before breaking for the Christmas holiday. On Thursday, the index posted a small decline. Despite Friday's drop, the market is moving closer to another standout annual finish . The S&P 500 is on track for a gain of around 25% in 2024. That would mark a second consecutive yearly gain of more than 20%, the first time that has happened since 1997-1998. The gains have been driven partly by upbeat economic data showing that consumers continued spending and the labor market remained strong. Inflation, while still high, has also been steadily easing. A report on Friday showed that sales and inventory estimates for the wholesales trade industry fell 0.2% in November, following a slight gain in October. That weaker-than-expected report follows an update on the labor market Thursday that showed unemployment benefits held steady last week. The stream of upbeat economic data and easing inflation helped prompt a reversal in the Federal Reserve's interest rate policy this year. Expectations for interest rate cuts also helped drive market gains. The central bank recently delivered its third cut to interest rates in 2024. Even though inflation has come closer to the central bank's target of 2%, it remains stubbornly above that mark and worries about it heating up again have tempered the forecast for more interest rate cuts. Inflation concerns have added to uncertainties heading into 2025, which include the labor market’s path ahead and shifting economic policies under incoming President Donald Trump. Worries have risen that Trump’s preference for tariffs and other policies could lead to higher inflation , a bigger U.S. government debt and difficulties for global trade. Amedisys rose 4.7% after the home health care and hospice services provider agreed to extend the deadline for its sale to UnitedHealth Group. The Justice Department had sued to block the $3.3 billion deal, citing concerns the combination would hinder access to home health and hospice services in the U.S. The move to extend the deadline comes ahead of an expected shift in regulatory policy under Trump. The incoming administration is expected to have a more permissive approach to dealmaking and is less likely to raise antitrust concerns. In Asia, Japan’s benchmark index surged as the yen remained weak against the dollar. Stocks in South Korea fell after the main opposition party voted to impeach the country’s acting leader. Markets in Europe gained ground. Bond yields held relatively steady. The yield on the 10-year Treasury rose to 4.62% from 4.59% late Thursday. The yield on the two-year Treasury remained at 4.33% from late Thursday. Wall Street will have more economic updates to look forward to next week, including reports on pending home sales and home prices. There will also be reports on U.S. construction spending and snapshots of manufacturing activity.