Fly-E Group Faces Class Action Lawsuit After Share Price Plunge
Fly-E Group, Inc. (NASDAQ:FLYE) faces a class action lawsuit following a significant drop in share price and allegations of false statements. Investors who purchased shares during a specific period are encouraged to seek legal advice.
On August 15, 2025, Fly-E's shares plummeted by approximately 87% after the company disclosed a substantial revenue decrease and lithium battery incidents. In response, Bragar Eagel & Squire, P.C. has filed a class action lawsuit on behalf of affected investors. The lawsuit alleges that Fly-E and its executives made misleading statements about the company's revenue outlook, sales, and risks associated with its lithium battery and supply chain changes. Investors who bought or acquired Fly-E securities between July 15, 2025, and August 14, 2025, may be eligible to join the lawsuit. The decline in Fly-E's net revenue, which decreased by 32% in the first quarter of fiscal year 2026 compared to the same period in 2024, was primarily due to a drop in total units sold of E-Bikes.
Investors who believe they have been harmed by Fly-E's alleged misstatements are urged to contact Bragar Eagel & Squire, P.C. for more information about their legal rights. The class action lawsuit aims to hold Fly-E accountable and seek compensation for affected investors.
Read also:
- American teenagers taking up farming roles previously filled by immigrants, a concept revisited from 1965's labor market shift.
- Weekly affairs in the German Federal Parliament (Bundestag)
- Landslide claims seven lives, injures six individuals while they work to restore a water channel in the northern region of Pakistan
- Escalating conflict in Sudan has prompted the United Nations to announce a critical gender crisis, highlighting the disproportionate impact of the ongoing violence on women and girls.
