Investors Urged to Join Fly-E Group Class Action for Compensation After Stock Plunge

Investors Alert: Class Action Lawsuit Against Fly-E Group, Inc.

Investors who found themselves facing significant losses due to the recent downturn of Fly-E Group, Inc., are being urged to participate in a class action lawsuit organized by the highly reputed law firm, Levi & Korsinsky, LLP. This legal move, designed to seek redress for investors, comes in the wake of serious allegations against the company regarding securities fraud.

Overview of the Situation

Fly-E Group, Inc., publicly trading on NASDAQ under the ticker FLYE, has faced a substantial backlash marked by a shocking decline in stock value, which plummeted by nearly 87% from $7.76 to $1.00 per share within a matter of days. This severe decrease coincides with Fly-E’s announcement regarding their inability to file timely financial documents, which revealed a staggering 32% drop in net revenues largely attributed to sales of their electric vehicles. The decline in sales has been linked to adverse events associated with its lithium batteries in E-Bikes and E-Scooters, raising questions on the safety of their products.

Allegations of Fraud

The class action lawsuit accuses Fly-E Group of making overly optimistic statements to shareholders that concealed significant risks and material facts regarding the company's performance and safety issues with its batteries. It is alleged that despite persistent reassurances from the company about promising revenue growth and robust product safety, the reality depicted a troubling scenario. As forecasts fell drastically short of expectations, the company's credibility faced a tangible blow.

Details of the Class Action

The lawsuit aims to represent all investors who held shares between July 15, 2025, and August 14, 2025, which encompasses the time when stock prices were adversely affected. The complaint highlights a worrying pattern of positive projections juxtaposed against concealing facts that severely impacted E-vehicle sales figures.

If you suffered losses in Fly-E during the specified timeframe, you have until November 10, 2025 to express your interest in being appointed as a lead plaintiff in this class action. Importantly, participation in the lawsuit does not require you to take on this role, and there will be no costs or fees collected from class members, promising a truly risk-free opportunity to recover some of your losses.

Contact Information

Levi & Korsinsky, which has garnered a reputation for successfully advocating on behalf of investors, specializes in complex securities litigation. The firm has a proven track record and offers their services with no upfront costs to involved investors. If you wish to learn more about your rights as a shareholder or are interested in joining the class action, do not hesitate to get in touch with Attorney Joseph E. Levi.

Interested parties may contact Levi & Korsinsky at:

- Email: [email protected]
- Phone: (212) 363-7500

In conclusion, if you are an investor in Fly-E Group, your voice and participation are vital in seeking accountability and potential recovery of your financial losses. Acting timeously could be instrumental as the window for filing interests in this class action is limited and could pave the way for significant recoveries arising from these troubling corporate revelations.