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Investigation announced for Investors in AgEagle Aerial Systems, Inc. (NYSE: UAVS)

02-23-2021 11:00 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation for investors in AgEagle Aerial Systems, Inc. (NYSE: UAVS) shares over potential securities laws violations.

An investigation for investors in AgEagle Aerial Systems, Inc. (NYSE: UAVS) shares over potential securities laws violations.

An investigation was announced concerning potential securities laws violations by AgEagle Aerial Systems, Inc. in connection with certain financial statements.

Investors who purchased shares of AgEagle Aerial Systems, Inc. (NYSE: UAVS), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of AgEagle Aerial Systems, Inc. (NYSE: UAVS) concerning whether a series of statements by AgEagle Aerial Systems, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Wichita, KS based AgEagle Aerial Systems, Inc. designs, develops, produces, distributes, and supports unmanned aerial vehicles for the precision agriculture industry in the United States and internationally. On February 18, 2021, a report was published entitled "AMAZON SAYS NO PARTNERSHIP" in which the reported detailed a series of allegedly alarming red flags about AgEagle Aerial Systems, Inc..
Specifically, the report stated, "We believe that AgEagle Aerial Systems Inc.'s (NASDAQ: UAVS) ('UAVS,' 'AgEagle,' or the 'Company') was a pump & dump scheme orchestrated by Alpha Capital Anstalt ('Alpha Capital'), AgEagle founder and former chairman Bret Chilcott and other UAVS insiders to defraud US investors."
Further, the report claimed, "In April 2020 rumor of a partnership between Amazon.com,Inc. & AgEagle was started by a promotional video uploaded to AgEagle's founder and former chairman Bret Chilcott's daughter's personal website and youtube account (the 'Promo Video'). Since then, a 54 page due diligence document has circulated on Reddit which at various times referenced the Promo Video and suggested that the AgEagle's partnership with Amazon was real."
Additionally, the report said, "We have found no evidence of any 'major e-commerce customer' or any drone technology credited to AgEagle other than reference to the Promo Video leaked by AgEagle's founder and former Chairman Bret Chilcott's daughter."
The report concluded. "In 4Q'20 an Amazon spokesperson disclosed to reporter Daniel McCoy of the Witchita Business Journal that Amazon specifically does not have any dealings with AgEagle whatsoever."

Shares of AgEagle Aerial Systems, Inc. (NYSE: UAVS) declined from $17.68 per share on February 10, 2021, to as low as $7.00 per share on February 23, 2021.

Those who purchased shares of AgEagle Aerial Systems, Inc. (NYSE: UAVS) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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