Important Notice for Fly-E Group, Inc. Shareholders
The Gross Law Firm is reaching out to shareholders of Fly-E Group, Inc. (NASDAQ: FLYE) with critical news regarding a class action lawsuit.
Class Period and Allegations
Shareholders who acquired shares of FLYE during the class period are encouraged to contact the Gross Law Firm regarding the potential appointment as lead plaintiff. It's essential to note that participating in the recovery process does not require an appointment as the lead plaintiff.
The allegations in the lawsuit center around misleading statements made by the defendants. They provided overly optimistic forecasts while failing to disclose crucial details about their lithium batteries' safety. This omission has negatively impacted their electric vehicle sales, which were projected to soar. Instead, sales have been declining, and operational costs have been souring, derailing the company's financial forecasts.
On August 14, 2025, the substantial truth emerged when Fly-E filed a notification of its inability to timely submit the Form 10-Q for the first fiscal quarter of 2026. This report revealed a staggering 32% drop in net revenue, largely linked to a reduction in units sold. Fly-E attributed this decline to mishaps involving its lithium batteries in E-Bikes and E-Scooters. Following this alarming news, Fly-E's stock plummeted dramatically, dropping from $7.76 per share on August 14, 2025, to just $1.00 per share by August 15, 2025—an astonishing decline of about 87% within one day.
Deadline for Participation
Investors are reminded of the deadline—November 10, 2025—for registering as part of this class action. It is critical for shareholders to act swiftly.
Next Steps for Shareholders
By registering as a shareholder who purchased shares of FLYE during the aforementioned period, you will gain access to a portfolio monitoring service that offers updates through the lawsuit’s progression. Remember, registering as a lead plaintiff is a decision to make by November 10, 2025, but it comes with no cost or obligation to those involved.
Why Choose the Gross Law Firm?
The Gross Law Firm is notable for its dedication to protecting the interests of investors facing deceit and unethical practices. Their mission reinforces the notion that companies need to adhere to ethical business practices and upstanding corporate citizenship. The firm is determined to recover losses for investors stemming from false or misleading statements by companies.
Contact Information
For inquiries, the Gross Law Firm is located at:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Phone: (646) 453-8903
Frequently Asked Questions
What is the class action about?
The class action involves misleading statements made by Fly-E Group regarding their lithium battery safety, affecting their stock value.
How can I join the class action?
Shareholders can join by registering through the Gross Law Firm before the November 10, 2025 deadline.
What are the allegations against Fly-E Group?
The allegations include making false statements about the safety of their lithium batteries while failing to disclose material information to investors.
What is the impact on FLYE stock?
The failure to disclose crucial facts led to a dramatic decline in FLYE's stock price, dropping approximately 87% in one day.
Is there any cost to join?
No, there is no cost or obligation for shareholders who wish to participate in the class action.
