Kirby(US:KEX) Globenewswire·2025-12-16 23:00Core Viewpoint - A class action lawsuit has been filed against Firefly Aerospace Inc. for alleged securities fraud during the period from August 4, 2025, to September 29, 2025, claiming misleading statements in their IPO documents and overstated operational capabilities [3]. Group 1: Lawsuit Details - The lawsuit alleges that Firefly's Offering Documents for its August 2025 IPO contained untrue statements and omitted necessary facts, failing to comply with regulatory standards [3]. - It is claimed that Firefly overstated the demand and growth prospects for its Spacecraft Solutions offerings and the operational readiness of its Alpha rocket program [3]. Group 2: Financial Performance - Firefly conducted its IPO on August 7, 2025, selling 19.296 million shares at $45.00 per share [4]. - In its first earnings report as a public company on September 22, 2025, Firefly reported a loss of $80.3 million, or $5.78 per share, compared to a loss of $58.7 million, or $4.60 per share, for the same quarter in 2024 [5]. - Revenue for the second quarter of 2025 was reported at $15.55 million, below analyst estimates of $17.25 million and down 26.2% year-over-year [5]. - The Spacecraft Solutions segment generated only $9.2 million in revenue, reflecting a 49% year-over-year decrease [5]. Group 3: Stock Price Impact - Following the earnings report, Firefly's share price dropped by $7.58, or approximately 15.3%, from $49.52 to $41.94 [5]. - After the disclosure of a failure in the Alpha Flight 7 rocket on September 29, 2025, shares fell by $7.64, or about 20.7%, from $36.96 to $29.32 [6].