Glancy Prongay & Murray LLP, a leading national shareholder rights law firm, announces that a securities fraud class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Fly-E Group, Inc. (“Fly-E” or the “Company”) (NASDAQ: FLYE) securities between July 15, 2025 and August 14, 2025, inclusive (the “Class Period”). Fly-E investors have until November 7, 2025 to file a lead plaintiff motion.

IF YOU SUFFERED A LOSS ON YOUR FLY-E GROUP, INC. (FLYE) INVESTMENTS, CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING CLAIMS TO RECOVER YOUR LOSS UNDER THE FEDERAL SECURITIES LAWS

What Happened?

On August 14, 2025, Fly-E disclosed that it was unable to timely file its Form 10-Q for the first quarter of fiscal year 2026, revealing a 32% year-over-year decline in net revenues, primarily driven by decreased unit sales following multiple lithium-battery accidents involving its E-Bikes and E-Scooters. The Company further warned that these incidents, along with retail store closures, would continue to weigh on future revenue.

On this news, Fly-E’s stock price fell $6.76, or 87.1%, to close at $1.00 per share on August 15, 2025, thereby injuring investors.

What Is the Lawsuit About?

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) the Defendants continually praised Fly-E’s brand reputation in the industry, cost reductions and favorable pricing from suppliers as a key component for Fly-E’s ability to grow its sales network, while simultaneously minimizing risks associated with its lithium battery, supply chain changes and the regulatory environment and possible demand fluctuations for its E-Bikes and E-Scooters; and (2) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

If you purchased or otherwise acquired Fly-E securities during the Class Period, you may move the Court no later than November 7, 2025 to request appointment as lead plaintiff in this putative class action lawsuit.

Contact Us to Participate or Learn More:

If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us:

Charles Linehan, Esq.

Glancy Prongay & Murray LLP

1925 Century Park East, Suite 2100

Los Angeles California 90067

Email: shareholders@glancylaw.com

Telephone: 310-201-9150

Toll-Free: 888-773-9224

Visit our website at www.glancylaw.com.

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If you inquire by email, please include your mailing address, telephone number and number of shares purchased.

To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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