#United States #Class Action #Los Angeles #Securities Fraud #Fly-E Group

FLYE Shareholders Encouraged to Take Action Against Securities Fraud

In a recent announcement, investors in Fly-E Group, Inc. (NASDAQ: FLYE) who have experienced financial losses have been given the opportunity to spearhead a securities fraud class action lawsuit against the company. The legal representation is being conducted by Glancy Prongay & Murray LLP, a law firm known for taking on such significant cases.

The Lawsuit Overview

This class action lawsuit revolves around the company’s alleged failure to disclose critical information to its investors between July 15, 2025, and August 14, 2025. During this period, the legal team claims that the defendants made positive statements about Fly-E's business operations and growth potential while ignoring the associated risks that could affect the company’s profitability.

Investors are particularly concerned about how Fly-E has been portrayed within the industry. The complaint indicates that while the company touted their brand’s reputation and cost reductions as strong points for future growth, they downplayed significant risks. These risks include issues related to lithium battery supply chains, regulatory challenges, and fluctuations in demand for its flagship products: electric bikes (E-Bikes) and electric scooters (E-Scooters).

The lawsuit asserts that the defendants’ optimistic assessments did not have a sound basis and were misleading to investors. This failure to communicate risks may have ultimately contributed to the financial losses suffered by shareholders.

Call to Action for Shareholders

Shareholders who believe they have suffered losses due to this situation are encouraged to take action before the lead plaintiff deadline of November 7, 2025. Interested investors can participate in the lawsuit by contacting the law firm. Glancy Prongay & Murray LLP is actively seeking to connect with those who experienced financial losses on their Fly-E investments to explore their legal options.

If you wish to learn more about the class action lawsuit or to determine your eligibility to participate, it's advised to reach out to the law firm directly. The firm provides various ways to communicate, including a toll-free number and an email where investors can inquire further.

Legal Representation Details

For those interested, specific contact details for the law firm are provided: Charles Linehan, Esq. is the designated contact, and he can be reached via email or telephone. They emphasize that investors do not need to take immediate action to join the class action; retaining legal counsel is optional at this stage.

Conclusion

This situation highlights the importance of transparency and accountability within publicly traded companies. For investment shareholders, this opportunity could potentially provide a pathway for recouping some of their losses through the upcoming class action suit. As the case unfolds, further developments will be crucial for investors looking to protect their interests and seek justice in this matter.

As the deadline approaches, affected shareholders should remain vigilant and proactive regarding their rights and be prepared to take action if they haven’t done so already.