Investors Encouraged to Join Class Action Against Fly-E Group for Financial Losses

On October 20, 2025, The Gross Law Firm sent out a critical alert to investors of Fly-E Group, Inc. (NASDAQ: FLYE), highlighting the opportunity for shareholders to join a pending class action lawsuit. This notice serves as a call for action for those who purchased shares of FLYE during the specified class period, which spans from July 15, 2025 to August 14, 2025.

The allegations mentioned in the complaint hint at a disturbing trend within Fly-E Group, where it is claimed that company executives presented excessively optimistic statements to investors while failing to disclose crucial information regarding the safety of Fly-E's lithium batteries. This misleading information led to a significant downturn in E-vehicle sales revenue, contradicting the company's ambitious long-term projections. Furthermore, the company’s predictions regarding sales performance were inaccurate, resulting in increasing operating expenses and ultimately leading to a steep decline in financial performance.

The situation escalated on August 14, 2025, when Fly-E filed a Notification of Inability to Timely File Form 10-Q for the first quarter of the fiscal year 2026. This filing disclosed a shocking 32% drop in net revenues, primarily attributed to a reduction in total units sold, a situation which Fly-E linked to recent accidents involving lithium batteries in E-bikes and E-scooters. Following this revelation, the market reacted swiftly. Fly-E's stock plummeted from a closing price of $7.76 per share on August 14 to just $1.00 per share the next day—an astonishing decline of approximately 87% in just 24 hours.

The Gross Law Firm encourages impacted investors to act swiftly and enroll for participation in this class action, where registration is essential to ensure eligibility for potential recovery. Investors are urged to provide their information through the registration link provided by The Gross Law Firm, ensuring that they are updated on the case’s progress via the portfolio monitoring software the firm offers. Notably, there is no cost or obligation for shareholders to participate.

The deadline for investors wishing to seek lead plaintiff status in this case is November 10, 2025. The Gross Law Firm is determined to advocate for the rights of investors affected by deceptive practices, committed to ensuring ethical business conduct among companies. By joining this class action, investors not only protect their interests but also support the overarching goal of promoting responsible corporate governance practices.

For assistance or inquiries regarding the upcoming class action, investors may visit The Gross Law Firm’s website or reach out to them directly.

Whether you are an individual stockholder or part of a larger investment group, this is an essential opportunity to reclaim losses amid troubling revelations about Fly-E Group’s operational integrity. All stakeholders are encouraged to stay proactive as the situation develops, fostering a collective response that holds misleading corporate practices accountable.