Core Viewpoint - Fly-E Group, Inc. is facing a class action securities lawsuit due to alleged securities fraud that negatively impacted investors between July 15, 2025, and August 14, 2025 [1][2]. Group 1: Lawsuit Details - The lawsuit claims that Fly-E provided overly positive statements while concealing material adverse facts regarding the safety of its lithium battery, which adversely affected E-vehicle sales revenue [2]. - On August 14, 2025, Fly-E filed a form NT 10-Q, revealing a 32% decrease in net revenues, primarily due to a decline in total units sold, attributed to recent lithium-battery accidents involving E-Bikes and E-Scooters [2]. - Following this disclosure, Fly-E's stock price plummeted from $7.76 per share to $1.00 per share on August 15, 2025, marking an approximate 87% decline in a single day [2]. Group 2: Next Steps for Investors - Investors who suffered losses during the relevant timeframe have until November 10, 2025, to request the Court to appoint them as lead plaintiff, although participation in any recovery does not require serving as a lead plaintiff [3]. - Class members may be entitled to compensation without any out-of-pocket costs or fees [3]. Group 3: Firm Background - Levi & Korsinsky, LLP has a history of securing hundreds of millions of dollars for shareholders and has been recognized as one of the top securities litigation firms in the United States for seven consecutive years [4].
Levi & Korsinsky Notifies Fly-E Group, Inc. Investors of a Class Action Lawsuit and Upcoming Deadline - FLYE