Core Viewpoint - Fly-E Group, Inc. is facing a class action lawsuit due to significant financial losses and misleading statements made by the company's management regarding its business operations and prospects during the class period from July 15, 2025, to August 14, 2025 [1][3]. Financial Performance - On August 14, 2025, Fly-E reported a 32% year-over-year decline in net revenues, primarily attributed to decreased unit sales following multiple lithium-battery accidents involving its E-Bikes and E-Scooters [2]. - Following this announcement, Fly-E's stock price plummeted by $6.76, or 87.1%, closing at $1.00 per share on August 15, 2025, resulting in significant losses for investors [2]. Lawsuit Details - The class action lawsuit alleges that Fly-E's management made materially false and misleading statements and failed to disclose adverse facts about the company's business and operations [3]. - Specifically, the lawsuit claims that management downplayed risks associated with lithium batteries, supply chain changes, regulatory environments, and demand fluctuations for its products while promoting the company's brand reputation and cost reductions as key growth factors [3]. Legal Actions - Investors who purchased Fly-E securities during the class period have until November 7, 2025, to file a lead plaintiff motion in the class action lawsuit [4].

Core Viewpoint - Fly-E Group, Inc. is facing a class action lawsuit due to significant financial losses and misleading statements made by the company regarding its business operations and prospects during the class period from July 15, 2025, to August 14, 2025 [3][5]. Financial Performance - On August 14, 2025, Fly-E reported a 32% year-over-year decline in net revenues, primarily attributed to decreased unit sales following multiple lithium-battery accidents involving its E-Bikes and E-Scooters [3]. - Following this announcement, Fly-E's stock price plummeted by $6.76, or 87.1%, closing at $1.00 per share on August 15, 2025, resulting in significant losses for investors [4]. Legal Proceedings - A class action lawsuit has been filed alleging that Fly-E's management made materially false and misleading statements about the company's brand reputation, cost reductions, and the risks associated with lithium batteries, which misled investors about the company's true financial health [5]. - Investors who purchased Fly-E securities during the class period are encouraged to file a lead plaintiff motion by the deadline of November 7, 2025, if they meet certain legal requirements [6].