Class Action Lawsuit for Fly-E Group, Inc. Shareholders Announced by The Gross Law Firm

Fly-E Group, Inc. Shareholders Targeted in Class Action Lawsuit

The Gross Law Firm recently issued an alert to shareholders of Fly-E Group, Inc. (NASDAQ: FLYE), notifying them of an upcoming class action lawsuit. This legal action stems from serious allegations against the company regarding misleading statements made to investors during a critical period. Shareholders who acquired shares between July 15, 2025, and August 14, 2025, are particularly encouraged to reach out to the firm, as they may be eligible for participation in this class action lawsuit.

Key Facts of the Case

The lawsuit primarily revolves around allegations that Fly-E Group executives provided investors with an overly optimistic outlook, while simultaneously hiding significant adverse facts about the safety of their lithium battery technology. These misleading communications resulted in inflated stock prices, which significantly fell when the truth about the company's poor financial health emerged.

On August 14, 2025, Fly-E released an NT 10-Q Notification indicating they were unable to file their Form 10-Q for the first quarter of fiscal year 2026. This filing disclosed a staggering 32% drop in net revenues, primarily attributed to a reduction in total units sold. Furthermore, the company cited recent accidents involving their lithium batteries used in E-Bikes and E-Scooters as a key factor behind this decline.

The fallout from this revelation was immediate and severe. On the very next day, August 15, 2025, Fly-E's stock price plummeted by approximately 87%, collapsing from a closing price of $7.76 to just $1.00 per share. This catastrophic decline prompted many shareholders to reconsider their investment in the company.

The Role of The Gross Law Firm

The Gross Law Firm specializes in class action lawsuits, striving to safeguard the rights of investors who have suffered due to fraud or unethical business practices. Their commitment to transparency and corporate responsibility has earned them a national reputation. The firm is now inviting shareholders who purchased FLYE shares within the specified class period to register for the class action, which involves no cost or obligation.

By registering, shareholders can ensure they receive updates throughout the litigation process via a portfolio monitoring tool. Additionally, the deadline to apply for lead plaintiff status is set for November 10, 2025. Being designated as a lead plaintiff is not a prerequisite for recovery, but it offers an essential opportunity for a more involved role in the proceedings.

Next Steps for Shareholders

Shareholders of Fly-E Group, Inc. are urged not to delay in registering for the class action lawsuit. The failure to act promptly may hinder their chances of participating in potential recoveries from any settlements that may arise from the case.

For interested shareholders, registration can be completed through a secure online form. Through this mechanism, individuals can submit their information and gain valuable insights into the ongoing status of the litigation.

In summary, the legal landscape for Fly-E Group, Inc. is currently fraught with uncertainty following allegations related to false reporting and financial downturn. Shareholders are encouraged to remain proactive about their investments by staying informed and engaging with resources like The Gross Law Firm as this case develops.