Investigation announced for Long-Term Investors in shares of Fly-E Group, Inc. (NASDAQ: FLYE)

An investigation was announced for investors in shares of Fly-E Group, Inc. (NASDAQ: FLYE) concerning potential breaches of fiduciary duties by certain directors and officers of Fly-E Group, Inc.

Investors who are current long term investors in Fly-E Group, Inc. (NASDAQ: FLYE) shares, 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 for current long term investors in NASDAQ: FLYE stocks follows a lawsuit filed against Fly-E Group, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: FLYE stocks, concerns whether certain Fly-E Group, Inc. directors are liable in connection with the allegations made in that lawsuit.

According to that complaint filed in the U.S. District Court for the Eastern District of New York the plaintiff alleges that, 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.