Core Viewpoint - A class action lawsuit has been filed against Fly-E Group, Inc. for allegedly misleading investors regarding its revenue outlook and sales performance during the class period from July 15, 2025, to August 14, 2025 [7]. 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 related to lithium batteries, supply chain changes, and regulatory challenges [7]. - A significant 32% decrease in net revenue was reported for the first quarter of fiscal year 2026 compared to the same period in 2024, attributed to a decline in total units sold due to safety concerns over lithium battery incidents [7]. - Following the negative news, Fly-E's stock price plummeted approximately 87%, from $7.76 per share on August 14, 2025, to $1.00 per share on August 15, 2025 [7]. Next Steps - Investors who purchased Fly-E shares during the class period and suffered losses are encouraged to contact the law firm Bragar Eagel & Squire for more information and to discuss their legal rights [4][8].
FLY-E CLASS ACTION ALERT: Bragar Eagel & Squire, P.C. Urges Fly-E Investors to Contact the Firm Before the November 7th Deadline