Core Viewpoint - The Gross Law Firm is notifying shareholders of Fly-E Group, Inc. about a potential class action lawsuit due to misleading statements regarding the safety of its lithium batteries, which negatively impacted the company's E-vehicle sales and stock price [1][2]. Group 1: Allegations and Impact - The complaint alleges that Fly-E Group provided overly positive statements while concealing material adverse facts about the safety of its lithium batteries, leading to a significant decline in E-vehicle sales revenue [1]. - 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 [1]. - Following the revelation, 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 [1]. Group 2: Class Action Details - Shareholders who purchased shares during the specified class period (July 15, 2025, to August 14, 2025) are encouraged to register for the class action, with a deadline to seek lead plaintiff status set for November 10, 2025 [2]. - Registered shareholders will be enrolled in a portfolio monitoring system to receive updates throughout the case lifecycle, with no cost or obligation to participate [2]. Group 3: Law Firm's Mission - The Gross Law Firm aims to protect investors' rights against deceit, fraud, and illegal business practices, ensuring companies adhere to responsible business practices [3]. - The firm seeks recovery for investors who suffered losses due to false or misleading statements that artificially inflated stock prices [3].
Fly-E Group, Inc. Sued for Securities Law Violations - Investors Should Contact The Gross Law Firm for More Information - FLYE