Levi & Korsinsky Launches Class Action Against Fly-E Group, Inc. for Securities Fraud

Class Action Lawsuit Filed Against Fly-E Group, Inc.

In a critical development for investors, legal firm Levi & Korsinsky, LLP has filed a class action lawsuit against Fly-E Group, Inc. (NASDAQ: FLYE) on behalf of individuals who suffered financial losses due to alleged securities fraud. This lawsuit is particularly significant following the drastic decline in Fly-E's stock price from $7.76 on August 14, 2025, to just $1.00 the very next day.

Background of the Case

The lawsuit is aiming to represent investors who acquired shares of Fly-E between July 15, 2025, and August 14, 2025, inclusive. During this period, the defendants are accused of promoting misleading information about the safety and performance of the company's lithium batteries, which directly impacted the sales and revenues of its electric vehicles. Despite their optimistic projections, Fly-E's actual sales figures continued to drop, ultimately culminating in the announcement of a substantial 32% decrease in net revenues.

On August 14, 2025, the company revealed a critical failure to file their Form 10-Q for the first quarter of fiscal year 2026, citing reasons that included recent accidents involving lithium batteries in e-bikes and e-scooters. This announcement led to a plummet in Fly-E's stock price, alarming investors who now face significant losses.

Call to Action for Investors

For those who have experienced losses due to the alleged misrepresentations of Fly-E Group, Levi & Korsinsky is extending an invitation to join the class action lawsuit. Interested investors should reach out to the firm by November 10, 2025, to express their desire to be appointed as lead plaintiffs. Even if investors do not take on this role, participating in the lawsuit may still qualify them for potential compensation.

Levi & Korsinsky emphasizes that there are no upfront costs or fees for class members, making it easy for affected investors to take part in the legal action. The firm has built a strong reputation over 20 years, successfully recovering millions for aggrieved shareholders in various cases and maintaining a skilled team of over 70 members devoted to client needs.

Next Steps

Investors are encouraged to contact Joseph E. Levi, Esq. for more detailed information on the class action suit. You can reach him via email at [email protected] or by calling (212) 363-7500.

The outcome of this lawsuit may set a precedent for accountability in the financial reporting and operational transparency of companies involved in the burgeoning electric vehicle market. As the situation develops, investors are advised to stay informed and consider their options carefully, especially given the substantial financial implications of this case.

Conclusion

This class action lawsuit against Fly-E Group, Inc. represents a significant step for investors seeking justice and recovery for financial losses attributed to alleged fraudulent practices. With Levi & Korsinsky leading this initiative, the potential for achieving restitution for impacted stakeholders is on the horizon. As always, investors should consult with legal and financial professionals when navigating these types of issues to ensure they make well-informed decisions regarding their investments.