Core Viewpoint - A class action lawsuit has been filed against Fly-E Group, Inc. for misleading investors regarding its revenue outlook and sales performance during the class period from July 15, 2025, to August 14, 2025 [6]. Allegation Details - The lawsuit claims that Fly-E's management created a false impression of reliable revenue projections and demand for its electric vehicle (EV) products, while downplaying risks associated with lithium batteries and supply chain issues [6]. - A significant 32% decrease in net revenue was reported, attributed to a decline in total units sold due to customer hesitance linked to lithium battery explosion incidents [6]. Financial Impact - Following the SEC filing on August 14, 2025, Fly-E's stock price plummeted from $7.76 per share to $1.00 per share on August 15, 2025, marking an 87% decline in just one day [6].
FLY-E DEADLINE ALERT: Bragar Eagel & Squire, P.C. Reminds Fly-E Investors of the November 7th Deadline and Urges Investors to Contact the Firm