Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of Fly-E Group, Inc. regarding a class action lawsuit due to misleading statements about the safety of its lithium batteries, which negatively impacted E-vehicle sales and led to a significant drop in stock price [1][3]. Summary by Relevant Sections Allegations - The complaint alleges that Fly-E Group provided overly positive statements while concealing material adverse facts about the safety of its lithium batteries, which adversely affected E-vehicle sales revenue [3]. - On August 14, 2025, Fly-E reported a 32% decrease in net revenues, attributed to a decline in total units sold, linked to recent lithium-battery accidents involving E-Bikes and E-Scooters [3]. - Following this revelation, Fly-E's stock price plummeted from $7.76 per share to $1.00 per share, marking an 87% decline in just one day [3]. Class Action Details - The class period for the lawsuit is from July 15, 2025, to August 14, 2025, and shareholders are encouraged to register for participation [3][4]. - The deadline for shareholders to seek lead plaintiff status is November 10, 2025, and there is no cost to participate in the case [4]. Firm's Commitment - The Gross Law Firm aims to protect investors' rights and ensure companies adhere to responsible business practices, seeking recovery for losses incurred due to misleading statements [5].
Fly-E Group, Inc. Sued for Securities Law Violations – Investors Should Contact The Gross Law Firm Before November 10, 2025 to Discuss Your Rights – FLYE