Core Points - A class action securities lawsuit has been filed against Fly-E Group, Inc. for alleged securities fraud affecting investors between July 15, 2025, and August 14, 2025 [1][2] - The lawsuit claims that Fly-E made misleading statements regarding the safety of its lithium batteries, which negatively impacted its electric vehicle sales revenue [2] - On August 14, 2025, Fly-E reported a 32% decrease in net revenues, primarily due to a drop in units sold, attributed to recent lithium battery accidents [2] - Following this disclosure, Fly-E's stock price plummeted approximately 87%, from $7.76 to $1.00 per share in one day [2] Case Details - The lawsuit seeks to recover losses for investors who were misled by Fly-E's positive statements while concealing material adverse facts [2] - The company’s revenue projections were significantly derailed due to increasing operating expenses and declining sales [2] - Investors have until November 10, 2025, to request to be appointed as lead plaintiff in the case [3] Legal Representation - Levi & Korsinsky, LLP has a strong track record in securities litigation, having secured hundreds of millions for shareholders over the past 20 years [4] - The firm has been recognized as one of the top securities litigation firms in the United States for seven consecutive years [4]
Fly-E Group, Inc. Sued for Securities Law Violations - Investors Should Contact Levi & Korsinsky Before November 10, 2025 to Discuss Your Rights - FLYE