Lawsuit filed for Investors who lost money with shares of Fly-E Group, Inc. (NASDAQ: FLYE)

An investor, who purchased shares of Fly-E Group, Inc. (NASDAQ: FLYE), filed a lawsuit over alleged violations of Federal Securities Laws by Fly-E Group, Inc. in connection with certain allegedly false and misleading statements.

Investors who purchased shares of Fly-E Group, Inc. (NASDAQ: FLYE) have certain options and for certain investors are short and strict deadlines running. Deadline: November 10, 2025. NASDAQ: FLYE investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Flushing, NY based Fly-E Group, Inc., through its subsidiaries, designs, installs, and sells smart electric motorcycles, electric bikes, electric scooters, and related accessories under the Fly E-Bike brand in the United States, Mexico, and Canada. Fly-E Group, Inc. (NASDAQ: FLYE) reported that its annual Total Revenue declined from $32.2 million for the 12 months period that ended on March 31, 2024, to $25.42 million for the 12 months period that ended on March 31, 2025.

On August 14, 2025, Fly-E filed a a Notification of Late Filing regarding its 10-Q for the first quarter of fiscal year 2026. The company reported that "[f]or the three months ended June 30, 2025, the Registrant's net revenues decreased by 32.3% to $5.3 million, compared to $7.9 million for the same period in 2024, which was primarily driven by a decrease in total units sold, which dropped by 6,432 units, from 16,880 units for the three months ended June 30, 2024, to 10,448 units for the three months ended June 30, 2025, and by the decreased average sales price of EV, which decreased by $93 per EV, from $1,053 in the three months ended June 30, 2024 to $960 in the three months ended June 30, 2025."

Fly-E Group, Inc reported that "[t]he decrease in volume and average sales price is mainly due to recent lithium-battery accidents involving E-Bikes and E-Scooters. With an increasing number of lithium-battery explosion incidents in New York, customers are less inclined to purchase E-Bikes. Consequently, sales have declined as customers opt for oil-powered vehicles over electric vehicles. The decrease in volume also attributed in part to the closures and disposition of Registrant's retail stores during the three months ended June 30, 2025."

Shares of Fly-E Group, Inc. (NASDAQ: FLYE) declined from $8.09 per share on August 14, 2025 to as low as $0.51 per share on August 20, 2025.

The plaintiff claims that between July 15, 2025 and August 14, 2025, the defendants made false statements and/or concealed that: defendants created the false impression that they possessed reliable information pertaining to the Company's projected revenue outlook and anticipated sales, that in truth, Fly-E's optimistic revenue goals and demand for its EV products and services fell short of reality; 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.

Those who purchased shares of Fly-E Group, Inc. (NASDAQ: FLYE) have certain options and should contact the Shareholders Foundation.

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 lawsuits, 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.

This release was published on openPR.