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] Summary by Sections Class Action Details - The lawsuit aims to recover losses for Fly-E investors who were affected by misleading statements regarding the safety of Fly-E's lithium battery, which adversely impacted E-vehicle sales revenue [2] - The company made optimistic long-term projections, but actual sales declined and operating expenses increased, leading to a significant shortfall in revenue expectations [2] Financial Impact - On August 14, 2025, Fly-E reported a 32% decrease in net revenues, primarily due to a drop in total units sold, which was attributed to recent lithium-battery accidents involving E-Bikes and E-Scooters [2] - Following this announcement, 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 just one day [2] Next Steps for Investors - Investors who suffered losses during the specified timeframe have until November 10, 2025, to request appointment 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] Firm Background - Levi & Korsinsky has a strong track record in securities litigation, having secured hundreds of millions of dollars for shareholders over the past 20 years [4] - The firm has been recognized in ISS Securities Class Action Services' Top 50 Report for seven consecutive years as one of the leading securities litigation firms in the U.S. [4]
Levi & Korsinsky Reminds Fly-E Group, Inc. Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of November 10, 2025 – FLYE