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 revenue projections [1][3]. 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 [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]. - Following this 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 [3]. Next Steps for Shareholders - Shareholders who purchased shares during the specified class period (July 15, 2025, to August 14, 2025) are encouraged to register for the class action by November 10, 2025, to potentially become lead plaintiffs [4]. - Registered shareholders will receive updates through a portfolio monitoring software throughout the lifecycle of the case [4]. Law Firm Background - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting investors' rights against deceit, fraud, and illegal business practices [5]. - 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 that inflated stock prices [5].
Fly-E Group, Inc. Securities Fraud Class Action Lawsuit Pending: Contact The Gross Law Firm Before November 10, 2025 to Discuss Your Rights – FLYE