Class Action Lawsuit Announced for Investors in Fly-E Group, Inc. Over Alleged Securities Fraud

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

In a significant legal development, investors in Fly-E Group, Inc. (NASDAQ: FLYE) are being urged to take action following the announcement of a pending class action securities lawsuit led by Levi & Korsinsky, LLP. This initiative seeks to represent shareholders who suffered losses during a critical period marked by alleged securities fraud that transpired between July 15 and August 14, 2025.

Understanding the Allegations

According to the lawsuit, Fly-E Group, Inc. compelled investors to believe in its robust market position by issuing overly optimistic statements regarding its electric vehicles and lithium battery safety. However, these statements were allegedly accompanied by material misrepresentations and omitted vital information related to the safety of their lithium batteries. This mismanagement is believed to have seriously impacted the company's E-vehicle sales and overall financial performance, leading to a dramatic decline in market confidence.

The situation reached a turning point on August 14, 2025, when Fly-E filed a notification indicating it could not submit its quarterly report (Form 10-Q) on time. The company's report revealed an alarming 32% drop in net revenues, which was primarily attributed to a decrease in total units sold due to safety concerns following several lithium-battery-related incidents with E-Bikes and E-Scooters.

The immediate fallout saw Fly-E's stock plummet from a closing price of $7.76 on August 14 to a startling $1.00 per share just one day later, showcasing an approximate 87% loss in value within 24 hours. This swift decline has prompted significant concern among investors, leading to the call for class action to recover their losses.

Call to Action for Affected Investors

Levi & Korsinsky is actively encouraging affected investors to come forward and join the class action lawsuit. If you experienced financial losses during this time frame due to the deleterious effects of the alleged fraud, you have until November 10, 2025, to express your interest in becoming a lead plaintiff. It’s crucial to note that participating in the recovery process does not necessitate you serving in this specific capacity.

Engagement in this class action comes at no personal cost for shareholders, as eligible participants may recover damages without incurring upfront fees or expenses. The law firm has over two decades of experience representing stakeholders in complex securities litigation cases and has successfully secured significant recoveries for their clients across numerous high-profile lawsuits.

Why Choose Levi & Korsinsky?

With an extensive track record of representing investors, Levi & Korsinsky has asserted itself as a leader in the field of securities litigation. Their dedicated team comprises over 70 professionals and has consistently ranked among the top securities litigation firms, evidenced by recognition in ISS Securities Class Action Services' Top 50 Report.

As they prepare to navigate the complexities of this case, Levi & Korsinsky reassures potential class members of their commitment to advocating for the rights of aggrieved investors.

For additional information or to discuss your involvement, contact Levi & Korsinsky directly:

Investors are encouraged to reach out as the clock is ticking on this opportunity to secure potential compensation for losses incurred due to the alleged securities fraud and misrepresentation by Fly-E Group, Inc.