Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of Fly-E Group, Inc. regarding a class action lawsuit due to misleading statements about the safety of its lithium batteries, which negatively impacted the company's E-vehicle sales and revenue projections [1]. Summary by 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 [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 this revelation, Fly-E's stock price plummeted from $7.76 per share to $1.00 per share, marking an approximate 87% decline in just one day [1]. Next Steps for Shareholders - Shareholders who purchased shares during the specified class period are encouraged to register for the class action by November 10, 2025, to potentially become lead plaintiffs [2]. - Registered shareholders will receive updates through a portfolio monitoring software throughout the lifecycle of the case [2]. About the Law Firm - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting investors' rights against deceit and fraud [3]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors who suffered losses due to misleading statements or omissions [3].
Investors who lost money on Fly-E Group, Inc.(FLYE) should contact The Gross Law Firm about pending Class Action - FLYE