Bragar Eagel & Squire, P.C. Litigation Partner Brandon Walker Encourages Investors Who Suffered Losses In Fly-E (FLYE)To Contact Him Directly To Discuss Their Options
If you purchased or acquired securities in Fly-E between July 15, 2025, to August 14, 2025 and would like to discuss your legal rights, call Bragar Eagel & Squire partner Brandon Walker or Marion Passmore directly at (212) 355-4648.
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NEW YORK, Oct. 27, 2025 (GLOBE NEWSWIRE) --
What’s Happening:
- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against Fly-E Group, Inc. (“Fly-E” or the “Company”) (NASDAQ: FLYE) in the United States District Court for the Eastern District of New York on behalf of all persons and entities who purchased or otherwise acquired Fly-E securities between July 15, 2025, to August 14, 2025, both dates inclusive (the “Class Period”).
- Investors have until November 7, 2025 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
Allegation Details:
- According to the complaint, during the class period, defendants created the false impression that they possessed reliable information pertaining to the Company's projected revenue outlook and anticipated sales. In truth, Fly-E's optimistic revenue goals and demand for its EV products and services fell short of reality; 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.
- On August 14, 2025, Fly-E filed with the SEC a form NT 10-Q: Notification of inability to timely file Form 10-Q for the first quarter of fiscal year 2026. The filing revealed a significant 32% decrease in Fly-E's net revenue compared to the same period in 2024. Notably, defendants stated that the primary driver for the revenue decrease was a decline of "total units sold" as customers were less inclined to purchase E-Bikes due to an "increasing number of lithium battery explosion incidents in New York". Although there was mention of sector wide lithium battery incidents in the 10-K filed on July 15, 2025, none were specific to Fly-E's lithium battery. Further, Defendants reiterated the fact that the EV industry is "subject to extensive environmental, safety and other laws and regulations, which include products safety and testing, as well as battery safety and disposal." On this news, the price of Fly-E's declined dramatically, from a closing market price of $7.76 per share on August 14, 2025, to $1.00 per share on August 15, 2025, a decline of about 87% in the span of just a single day.
Next Steps:
- If you purchased or otherwise acquired Fly-E shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Marion Passmore by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
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Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
