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 revenue [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, leading to a significant decline in E-vehicle sales revenue [3]. - 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 [3]. Stock Price Impact - Following the revelation of the company's financial difficulties, Fly-E's stock price plummeted from $7.76 per share on August 14, 2025, to $1.00 per share on August 15, 2025, marking an approximate decline of 87% in just one day [3]. Class Action Details - Shareholders who purchased shares during the class period from July 15, 2025, to August 14, 2025, are encouraged to register for the class action, with a deadline for lead plaintiff appointment set for November 10, 2025 [4]. - Participants will be enrolled in a portfolio monitoring system to receive updates throughout the case lifecycle [4]. Law Firm Background - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting investors' rights against deceit and fraud, aiming to ensure responsible business practices by companies [5].
The Gross Law Firm Reminds Shareholders of a Lead Plaintiff Deadline of November 10, 2025 in Fly-E Lawsuit – FLYE