Core Points - 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 E-vehicle sales revenue [1] - The class period for the lawsuit is from July 15, 2025, to August 14, 2025, with a significant revenue decline of 32% reported on August 14, 2025, attributed to decreased unit sales and recent lithium-battery accidents [1] - Following the revelation of the financial issues, Fly-E's stock price plummeted approximately 87%, from $7.76 per share to $1.00 per share in one day [1] Company and Industry Summary - Fly-E Group, Inc. faced allegations of providing overly positive statements while concealing material adverse facts about its lithium battery safety, leading to a significant decline in sales and revenue projections [1] - The company reported a substantial decrease in net revenues, primarily driven by a drop in total units sold, which was linked to safety incidents involving its products [1] - The Gross Law Firm is encouraging shareholders to register for the class action lawsuit, with a deadline for lead plaintiff applications set for November 10, 2025 [2]
Fly-E Group, Inc. Sued for Securities Law Violations - Investors Should Contact The Gross Law Firm Before November 10, 2025 to Discuss Your Rights - FLYE