#United States #New York #Inc. #Securities Fraud #class action lawsuit #Fly-E Group

Levi & Korsinsky Notifies Fly-E Group, Inc. Investors of Class Action Lawsuit

Levi & Korsinsky, LLP has recently announced to investors in Fly-E Group, Inc. (NASDAQ: FLYE) regarding a class action securities lawsuit. This lawsuit is particularly significant for those who are concerned about their investments in Fly-E during a critical period marked by alleged securities fraud.

Class Definition

The class action seeks to recover losses incurred by Fly-E investors who suffered due to claims of securities fraud occurring between July 15, 2025, and August 14, 2025. For more details and to connect with a legal representative, investors can visit Levi & Korsinsky's dedicated website for the lawsuit.

Case Details

According to the allegations outlined in the complaint, Fly-E Group's executives made overly positive statements that misled investors while concurrently distributing materially false information regarding the safety of the company’s lithium batteries. These misleading representations adversely affected sales of Fly-E's E-vehicles. Despite optimistic long-term sales projections, the company faced declining sales, with increasing operating expenses hampering its financial forecasts.

The situation escalated dramatically when, on August 14, 2025, Fly-E submitted a notification indicating its inability to timely file Form 10-Q for the first quarter of the fiscal year 2026. This notification unveiled a substantial decline of 32% in net revenues, attributing it to a decrease in total units sold, largely influenced by numerous lithium battery accidents involving electric bikes and scooters.

The aftermath of this revelation was catastrophic; on August 14, 2025, Fly-E’s stock closed at $7.76 but plummeted to a staggering $1.00 the following day—a startling 87% drop in stock value witnessed in just 24 hours. This decline has left many investors seeking answers and recourse through the class action lawsuit.

Next Steps

Investors who experienced losses during the key period are urged to act swiftly, as they only have until November 10, 2025, to petition the Court to appoint them as lead plaintiffs. However, it is critical to note that participating in any potential recovery does not necessitate serving as a lead plaintiff.

No Cost to Participants

Individuals who qualify as class members may be entitled to compensation without incurring any upfront costs or associated fees. There are no obligations attached to joining the class action.

Levi & Korsinsky’s Credentials

Levi & Korsinsky has been a formidable force in the realm of securities litigation over the past two decades, recovering vast sums for shareholders and leading high-profile case victories. With a dedicated team of over 70 legal professionals, the firm is well-equipped to assist clients navigating complex securities cases. It has consistently ranked among the top securities litigation firms in the United States.

For further assistance or inquiries, interested parties can reach out to Levi & Korsinsky directly:
- Joseph E. Levi, Esq.
- Ed Korsinsky, Esq.
- Address: 33 Whitehall Street, 17th Floor, New York, NY 10004
- Email: [email protected]
- Phone: (212) 363-7500

As the story unfolds, investors are encouraged to stay informed about the developments of this class action lawsuit against Fly-E Group, Inc., as these proceedings could have significant implications on their investments.