Core Viewpoint - A class action lawsuit has been filed against Fly-E Group, Inc. for allegedly misleading investors about its revenue projections and sales performance during a specified period [1][2]. Company Overview - Fly-E Group, Inc. operates in the electric vehicle sector, specifically designing, installing, and selling smart electric motorcycles, electric bikes, electric scooters, and related accessories under the Fly E-Bike brand in the United States, Mexico, and Canada [1]. Allegations - The lawsuit claims that Fly-E Group misrepresented its revenue outlook and sales expectations, creating a false impression of reliable information regarding its financial performance [2]. - The complaint highlights that Fly-E's optimistic revenue goals did not align with actual demand for its electric vehicle products, and the company downplayed risks related to lithium batteries, supply chain issues, and regulatory challenges [2]. Financial Performance - On August 14, 2025, Fly-E reported a significant 32% decrease in net revenue compared to the same period in 2024, primarily attributed to a decline in total units sold due to consumer hesitance linked to lithium battery explosion incidents [3]. - Following the revenue announcement, Fly-E's stock price plummeted approximately 87%, from $7.76 per share to $1.00 per share within a single day [3]. Legal Proceedings - Shareholders are encouraged to participate in the class action lawsuit, with options to serve as lead plaintiff or remain as absent class members [4]. - Robbins LLP, the law firm handling the case, operates on a contingency fee basis, meaning shareholders incur no upfront costs [5].
Fly-E Group, Inc. Shareholders Who Lost Money in FLYE Should Contact Robbins LLP for Information About Leading the Class Action Lawsuit