Core Points - The Gross Law Firm has issued a notice to shareholders of Fly-E Group, Inc. regarding a potential class action lawsuit due to misleading statements about the safety of its lithium batteries, which negatively impacted E-vehicle sales revenue [2][4] - The class period for the lawsuit is from July 15, 2025, to August 14, 2025, during which Fly-E allegedly provided overly positive statements while concealing material adverse facts [2][3] - On August 14, 2025, Fly-E reported a 32% decrease in net revenues, primarily due to a decline in total units sold, attributed to recent lithium-battery accidents [2][3] - Following the revelation, Fly-E's stock price plummeted from $7.76 per share to $1.00 per share, marking an approximate 87% decline in a single day [2][3] Company and Industry Summary - Fly-E Group, Inc. is facing legal challenges due to allegations of providing false and misleading information regarding the safety of its lithium batteries, which has led to significant financial losses for shareholders [2][4] - The company's revenue projections were significantly impacted as sales continued to decline while operating expenses increased, indicating potential mismanagement or over-optimism in forecasting [2][3] - The class action lawsuit aims to hold Fly-E accountable for the alleged deceitful practices that resulted in artificial inflation of its stock price prior to the disclosure of the adverse information [4]
Fly-E Group, Inc. Securities Fraud Class Action Lawsuit Pending: Contact The Gross Law Firm Before November 10, 2025 to Discuss Your Rights - FLYE