Core Viewpoint - Fly-E Group, Inc. is facing a class action lawsuit due to significant financial losses and misleading statements made by the company regarding its business operations and prospects during the class period from July 15, 2025, to August 14, 2025 [3][5]. Financial Performance - On August 14, 2025, Fly-E reported a 32% year-over-year decline in net revenues, primarily attributed to decreased unit sales following multiple lithium-battery accidents involving its E-Bikes and E-Scooters [3]. - Following this announcement, Fly-E's stock price plummeted by $6.76, or 87.1%, closing at $1.00 per share on August 15, 2025, resulting in significant losses for investors [4]. Legal Proceedings - A class action lawsuit has been filed alleging that Fly-E's management made materially false and misleading statements about the company's brand reputation, cost reductions, and the risks associated with lithium batteries, which misled investors about the company's true financial health [5]. - Investors who purchased Fly-E securities during the class period are encouraged to file a lead plaintiff motion by the deadline of November 7, 2025, if they meet certain legal requirements [6].
Deadline Approaching: Fly-E Group, Inc. (FLYE) Investors Who Lost Money Urged To Contact Law Offices of Howard G. Smith