Fly-E Group, Inc. Faces Class Action Lawsuit Over Investor Losses
In a significant legal development, the Gross Law Firm has initiated a class action lawsuit against Fly-E Group, Inc. (NASDAQ: FLYE), focused on protecting shareholders who experienced financial losses due to the company's alleged misleading practices. This lawsuit follows a concerning period for Fly-E, specifically between July 15, 2025, and August 14, 2025, when investors faced a dramatic drop in stock value, attributed to revelations about the safety of their lithium batteries used in electric vehicles.
According to the complaint filed, Fly-E’s management made overly optimistic statements to investors about the company's performance and prospects. However, these positive claims fell flat as the company allegedly concealed significant safety risks related to its lithium battery technology, which have now come to light. As highlighted in the lawsuit, these misleading statements directly contributed to a sharp decline in sales and revenue, prompting serious concerns regarding the company's operational integrity.
The situation escalated on August 14, 2025, when Fly-E issued a notification indicating its inability to file the Form 10-Q on time for the first quarter of the fiscal year 2026. This filing revealed a staggering 32% decrease in net revenues, which the company attributed primarily to a drop in total units sold, a situation described as influenced by recent lithium-battery accidents involving E-Bikes and E-Scooters. This stark revelation triggered a market reaction, causing Fly-E's share price to plummet from $7.76 per share to an alarming $1.00 within a single day, translating to a colossal loss of about 87% in stock value overnight.
Shareholders who purchased shares during the specified class period are strongly encouraged to register with the Gross Law Firm. This move not only facilitates participation in the lawsuit but also allows investors to potentially be appointed as lead plaintiffs if they wish. Importantly, seeking a lead plaintiff status is not a prerequisite for recovering potential losses from this case, and interested individuals can easily submit their information via the law firm’s designated platform. As outlined, the deadline to register for participation is November 10, 2025.
For those who register, the Gross Law Firm provides valuable resources, including access to a portfolio monitoring service that will keep investors informed about the latest developments in their case.
The Gross Law Firm has established itself as a prominent player in the realm of class action lawsuits, dedicated to safeguarding the rights of investors affected by deceitful business practices. Their mission centers on promoting responsible corporate behavior and accountability among publicly traded companies. Investors who experienced losses due to Fly-E's alleged misrepresentations now have the opportunity to reclaim their investments through this legal action.
For further information and to register for the class action, shareholders are advised to visit the link provided by the Gross Law Firm, where they can complete their loss submission forms without any obligation or cost involved. This legal initiative represents not only a fight for restitutive justice but also a critical examination of corporate practices in the evolving electric vehicle market, where safety must remain paramount.
In what could be a landmark case, Fly-E's shareholders may find a path toward accountability and restitution as they navigate the fallout of this situation, and the outcome of this lawsuit will likely have broader implications for the industry as a whole.
According to the complaint filed, Fly-E’s management made overly optimistic statements to investors about the company's performance and prospects. However, these positive claims fell flat as the company allegedly concealed significant safety risks related to its lithium battery technology, which have now come to light. As highlighted in the lawsuit, these misleading statements directly contributed to a sharp decline in sales and revenue, prompting serious concerns regarding the company's operational integrity.
The situation escalated on August 14, 2025, when Fly-E issued a notification indicating its inability to file the Form 10-Q on time for the first quarter of the fiscal year 2026. This filing revealed a staggering 32% decrease in net revenues, which the company attributed primarily to a drop in total units sold, a situation described as influenced by recent lithium-battery accidents involving E-Bikes and E-Scooters. This stark revelation triggered a market reaction, causing Fly-E's share price to plummet from $7.76 per share to an alarming $1.00 within a single day, translating to a colossal loss of about 87% in stock value overnight.
Shareholders who purchased shares during the specified class period are strongly encouraged to register with the Gross Law Firm. This move not only facilitates participation in the lawsuit but also allows investors to potentially be appointed as lead plaintiffs if they wish. Importantly, seeking a lead plaintiff status is not a prerequisite for recovering potential losses from this case, and interested individuals can easily submit their information via the law firm’s designated platform. As outlined, the deadline to register for participation is November 10, 2025.
For those who register, the Gross Law Firm provides valuable resources, including access to a portfolio monitoring service that will keep investors informed about the latest developments in their case.
The Gross Law Firm has established itself as a prominent player in the realm of class action lawsuits, dedicated to safeguarding the rights of investors affected by deceitful business practices. Their mission centers on promoting responsible corporate behavior and accountability among publicly traded companies. Investors who experienced losses due to Fly-E's alleged misrepresentations now have the opportunity to reclaim their investments through this legal action.
For further information and to register for the class action, shareholders are advised to visit the link provided by the Gross Law Firm, where they can complete their loss submission forms without any obligation or cost involved. This legal initiative represents not only a fight for restitutive justice but also a critical examination of corporate practices in the evolving electric vehicle market, where safety must remain paramount.
In what could be a landmark case, Fly-E's shareholders may find a path toward accountability and restitution as they navigate the fallout of this situation, and the outcome of this lawsuit will likely have broader implications for the industry as a whole.
Topics Financial Services & Investing）
【About Using Articles】
You can freely use the title and article content by linking to the page where the article is posted.
※ Images cannot be used.
【About Links】
Links are free to use.