Understanding the Fly-E Group, Inc. Shareholder Lawsuit Process
Understanding Your Rights as an Investor in Fly-E Group, Inc.
The Law Offices of Howard G. Smith are reaching out to investors regarding an important legal deadline for those who purchased securities of Fly-E Group, Inc. (NASDAQ: FLYE). If you've experienced financial loss due to your investment in the company, it's crucial to understand your rights and the potential actions you can take.
The Critical Deadline for Investors
Investors are reminded to file a lead plaintiff motion by November 7, 2025. This is a vital step for anyone who purchased Fly-E securities between July 15 and August 14, 2025. Participation in the lawsuit could become a significant means of seeking restitution for investment losses.
Who Should Participate?
If you are among those who faced financial setbacks from your investment in Fly-E, it’s essential to reach out to the Law Offices of Howard G. Smith. Their team is available to discuss your eligibility and potential involvement in the ongoing securities fraud lawsuit.
What Led to the Current Lawsuit?
On August 14, 2025, Fly-E disclosed that it was unable to submit its quarterly report on time, revealing a staggering 32% decline in net revenues compared to the previous year. This decline was primarily attributed to decreased sales in light of multiple accidents involving the company's lithium battery-powered E-Bikes and E-Scooters. As a result of these issues, plus the closure of retail locations, future revenue was expected to decline even further, leading to serious concerns for investors.
Impact on Stock Price
This troubling news resulted in a drastic drop in Fly-E's share price, which plummeted by $6.76 – that’s a massive 87.1% loss, leaving many investors understandably anxious about their holdings.
Details of the Allegations Against Fly-E Group
The class action lawsuit alleges that throughout the investment period, the defendants made materially false statements and failed to disclose key facts regarding the company's operations and potential risks. They presented Fly-E as a company with a strong reputation, capable of achieving cost efficiency and maintaining solid supplier relationships, while downplaying the risks associated with lithium battery management and supply chain challenges.
What You Need to Know If You Were Affected
If you have purchased Fly-E securities during the stated period and believe that you have a claim, you may motion the Court to appoint you as the lead plaintiff. It's a legally defined process requiring certain qualifications that the experienced legal team can guide you through.
Ways to Connect with Legal Assistance
To learn more about participating in this lawsuit, you can contact the Law Offices of Howard G. Smith directly. Their team is ready to assist you via email at howardsmith@howardsmithlaw.com or by phone at (215) 638-4847. You can also visit their website for detailed information on your rights and the lawsuit’s nature.
What If You Don't Take Action?
It is worth noting that you do not have to act immediately to be part of the class action. You can choose to retain your counsel or stay an absent member of the class action if that aligns better with your situation.
Company Contact Information
If you need to reach out for further information, here are the contact details for the Law Offices of Howard G. Smith:
3070 Bristol Pike, Suite 112,
Bensalem, Pennsylvania 19020,
Telephone: (215) 638-4847
Email: howardsmith@howardsmithlaw.com
Frequently Asked Questions
What is the significance of the November 7 deadline?
This date marks the last opportunity for investors affected by Fly-E's financial issues to join the class action lawsuit as lead plaintiffs.
What should I do if I lost money in my investment?
If you suffered losses, reach out to the Law Offices of Howard G. Smith to explore your legal options.
Why did Fly-E's stock price decrease so dramatically?
Major safety issues primarily related to lithium-battery accidents led to significant declines in sales and the company’s revenue.
How can I participate in the lawsuit?
You can contact the Law Offices of Howard G. Smith to discuss your qualifications and interest in joining the lawsuit.
Is this lawsuit just for major investors?
No, all investors who purchased Fly-E securities during the class period may participate, regardless of the size of their investment.
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