#United States #New York #Class Action #Gross Law Firm #Fly-E Group

Important Reminder for Fly-E Shareholders

The Gross Law Firm has issued a crucial reminder for shareholders of Fly-E Group, Inc. (NASDAQ: FLYE), highlighting an impending deadline for lead plaintiff applications set for November 10, 2025. This serves as an essential step for those who acquired shares during the specified class period from July 15, 2025, to August 14, 2025.

Context of the Lawsuit

The class action lawsuit arose following allegations that Fly-E misled investors with overly optimistic statements regarding its lithium batteries while concealing significant adverse facts that directly impacted the company's electric vehicle sales. The lawsuit revealed that, despite ambitious long-term projections, Fly-E's sales were plummeting, and its operating expenses were escalating. Ultimately, these factors resulted in stark deviations from their revenue forecasts, culminating in a severe stock price drop.

Critical Timeline and Events

On August 14, 2025, the situation worsened when Fly-E submitted a notification of its inability to file the required Form 10-Q for the first quarter of the fiscal year 2026. This disclosure included a staggering 32% decline in net revenues attributed to a drop in total units sold. In particular, Fly-E highlighted its struggles stemming from recent lithium battery incidents involving E-Bikes and E-Scooters.

The fallout was immediate and drastic: the company's stock price plummeted from $7.76 per share on August 14 to just $1.00 the following day—a shocking drop of around 87% in only 24 hours.

Steps for Shareholders

Affected shareholders are encouraged to act promptly and register for the class action lawsuit, as participation does not require being appointed as a lead plaintiff to potentially recover losses. Interested shareholders can register through the provided link, after which they will receive updates regarding the case through dedicated portfolio monitoring software.

The Role of Gross Law Firm

The Gross Law Firm is recognized nationally for its commitment to protecting the rights of investors. Their mission centers on helping clients who have suffered because of deception, fraud, and unethical business behavior. The firm aims to ensure that companies engage in responsible practices and uphold good corporate citizenship.

By representing investors who experienced losses due to misleading statements or the omission of critical information, the Gross Law Firm stands as a beacon of hope for redressal.

Contact Information

Shareholders seeking to join the case can reach out to the Gross Law Firm at their New York office or via the contact details provided. As the November deadline approaches, it is critical for impacted individuals to take action sooner rather than later to secure their interests.

For more information or to get in touch, shareholders can call (646) 453-8903 or email [email protected] New York, NY remains the focal point for inquiries concerning the ongoing situation involving Fly-E Group.

It is imperative for shareholders to stay informed and proactive as these developments unfold. On November 10, 2025, the opportunity could close, making this the time for decisive action regarding Fly-E’s future.