Core Viewpoint - A securities class action lawsuit has been filed against Fly-E Group, Inc. due to allegations of misleading investors regarding revenue outlook and demand for electric vehicle (EV) products [1][7]. Company Summary - Fly-E Group, Inc. is listed on NASDAQ under the ticker FLYE [6]. - The company is facing legal challenges related to its financial disclosures and statements made during the class period from July 15, 2025, to August 14, 2025 [7][8]. Legal Allegations - The lawsuit claims that Fly-E misrepresented its revenue outlook and demand for its EV products, while downplaying risks associated with lithium battery safety, supply chain changes, and regulatory challenges [7][8]. - A significant corrective disclosure occurred on August 14, 2025, when Fly-E reported a 32% year-over-year revenue drop, attributed to decreased E-Bike sales amid increasing incidents of lithium battery explosions in New York [7][8]. Financial Impact - Following the corrective disclosure, Fly-E's stock price experienced a dramatic decline of 87% in a single day, dropping from $7.76 to $1.00 per share [7][8]. Next Steps for Investors - Shareholders who have incurred losses during the class period can seek to be appointed as lead plaintiffs by contacting the law firm before the deadline of November 7, 2025 [7].
Shareholders who lost money in shares of Fly-E Group, Inc. (NASDAQ: FLYE) Should Contact Wolf Haldenstein Immediately