Investors Encouraged to Join Class Action Against Fly-E Group, Inc. After Significant Losses

Investors Encouraged to Join Class Action Against Fly-E Group, Inc.

Fly-E Group, Inc. (NASDAQ: FLYE), a company recently in the spotlight for legal troubles, is under investigation for allegations of securities fraud that could affect investors significantly. Levi & Korsinsky, LLP, a prominent law firm specializing in securities litigation, has extended a call to action for shareholders who believe they have incurred losses from July 15, 2025, to August 14, 2025, to participate in a class action lawsuit against the firm.

Background of the Case

Fly-E Group’s situation deteriorated when the company released overly positive statements about its performance, while allegedly hiding crucial adverse information related to the safety of its lithium batteries, which are essential for its electric vehicles. The company's optimistic projections did not reflect the true state of its sales, which were unfolding on a downward trend. This discrepancy raised serious concerns as investors relied on the misleading information, which ultimately led to profound financial losses.

Revenue Projections and Shareholder Impact

On August 14, 2025, the company disclosed significant declines in its financial health through a Notification of Inability to Timely File its Form 10-Q for the first quarter of fiscal year 2026. Specifically, Fly-E reported a staggering 32% decline in net revenues, principally attributed to decreased customer purchases and complications following accidents involving its lithium-battery-powered E-Bikes and E-Scooters. Following this revelation, the stock price plummeted from $7.76 per share to an alarming $1.00 per share in just 24 hours—a terrifying drop of about 87% that left many investors in the lurch.

Taking Action

Investors who experienced financial setbacks during the specified timeframe are encouraged to act promptly. The window for joining the class action and applying to be designated as a lead plaintiff extends to November 10, 2025. Notably, potential participants are not required to take on the lead plaintiff role to be eligible for recovery. Levi & Korsinsky emphasizes that joining this class action comes at no financial risk to investors, as compensation may be recovered without requiring any direct out-of-pocket expenses or fees.

Why Choose Levi & Korsinsky

With over 20 years of experience, Levi & Korsinsky has solidified its reputation in the realm of securities litigation, securing hundreds of millions of dollars for investors over the years. Their commitment to client advocacy and a proven track record of success make them a formidable ally for affected Fly-E shareholders. The firm has consistently ranked among the top securities litigation firms in the nation, demonstrating their dedication to providing high-quality legal representation for investors in difficult financial situations.

If you wish to learn more about this lawsuit or seek further assistance, please don’t hesitate to reach out to Levi & Korsinsky via email at [email protected] or call (212) 363-7500. Investors looking for an opportunity to reclaim their losses are encouraged to visit their dedicated page linked in the original announcement. Remember, the cost to join this class action is entirely free, and participation could pave the way towards financial recovery from the damages suffered due to Fly-E Group’s alleged misconduct.