Investors Urged to Join Class Action Over Fly-E Group, Inc. Losses

On November 7, 2025, Levi & Korsinsky, LLP announced that they are reaching out to shareholders of Fly-E Group, Inc. (NASDAQ: FLYE) regarding a class action securities lawsuit that has been initiated. This lawsuit addresses the significant losses incurred by investors due to alleged deceptive practices by the company

Class Action Overview

The class action lawsuit aims to recover losses for Fly-E investors who experienced negative impacts stemming from alleged securities fraud during a defined period, from July 15, 2025, to August 14, 2025. The firm is inviting those affected to contact them to find out more about their rights and the process to participate.

Case Details

According to the legal complaint, the company had been misleading investors by issuing overly optimistic statements while hiding crucial information regarding the safety of its lithium batteries. These concealed facts are believed to have significantly harmed the sales figures of its E-vehicles, despite the company's lofty long-term projections. Instead of success, Fly-E faced declining sales and rising operational costs, which ultimately contributed to a massive shortfall in revenue expectations.

The situation took a turn for the worse on August 14, 2025, when the company filed a Notification of Inability to Timely File Form 10-Q for the first quarter of Fiscal Year 2026. This form disclosed a shocking 32% drop in net revenues, primarily citing a downturn in units sold, which the company attributed to a surge in incidents involving lithium battery technology related to E-Bikes and E-Scooters. The financial fallout from this revelation was severe, plummeting Fly-E’s stock from a closing price of $7.76 on August 14, 2025, to a mere $1.00 the following day.

What Should Affected Investors Do?

Investors who suffered losses during the pertinent timeframe can take action until November 10, 2025, by requesting court appointment as the lead plaintiff in this class action. Importantly, participating in the recovery process does not necessitate serving as the lead plaintiff.

No Cost Participation

If you are identified as a class member, you could receive compensation without incurring any upfront costs or obligations. Levi & Korsinsky assures that all arrangements are made to ensure fair representation and recovery for those impacted by Fly-E's actions.

Why Choose Levi & Korsinsky?

Levi & Korsinsky has garnered a strong reputation over the past two decades, successfully securing hundreds of millions of dollars for aggrieved shareholders. Their team boasts extensive experience in complex securities litigation and consists of over 70 professionals dedicated to client service. For seven consecutive years, the firm has ranked among the Top 50 Report by ISS Securities Class Action Services, solidifying its status as a leading firm in this space.

Reach Out for More Information

Shareholders interested in learning more about the class action can reach out to Levi & Korsinsky directly. Interested investors can connect with Joseph E. Levi or Ed Korsinsky at their office located at 33 Whitehall Street, 17th Floor, New York, NY 10004, or through phone at (212) 363-7500. Additionally, further details and options to file claims can be found on the official website.

In summary, the situation surrounding Fly-E Group, Inc. illustrates the importance of transparency and responsible corporate governance. Affected investors are encouraged to take action and explore their legal rights to seek compensation for the losses incurred during this tumultuous period.