Fly-E Holdings PLC

Case Overview
60 Days Left to Seek Lead Plaintiff
Lead Plaintiff Deadline: | Lead Plaintiff Deadline: 11/07/2025 |
Status: | Status: Investigating |
Company Name: | Company Name: Fly-E Holdings PLC |
Court: | Court: Eastern District of New York |
Case Number: | Case Number: 1:25cv05017 |
Class Period: | Class Period: 07/15/2025 - 08/14/2025 |
Ticker: | Ticker: FLYE |
Related Attorneys: | Lead Attorneys: Thomas W. Elrod |
Related Practices: | Related Practices: Securities |
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed on behalf of those who acquired Fly-E Group, Inc. (“Fly-E” or the “Company”) (NASDAQ:FLYE) securities during the period of July 15, 2025 through August 14, 2025, inclusive (“the Class Period”). Investors have until November 7, 2025 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
On August 14, 2025, Fly-E filed a form NT 10-Q: Notification of inability to timely file Form 10-Q for the first quarter of fiscal year 2026 revealing a substantial decrease of 32% in net revenues “primarily driven by a decrease in total units sold.” In pertinent part, the Company attributed the decline to “recent lithium-battery accidents involving E-Bikes and E-Scooters.” As a result of the lithium battery incidents and retail store closures, Defendants expect a further decrease in retail sales revenue for the Company’s 2026 fiscal year.
On this news the price of FlyE’s common stock declined dramatically. From a closing market price of $7.76 per share on August 14, 2025, Fly-E’s stock price fell to $1.00 per share on August 15, 2025, a decline of about 87% in the span of just a single day.
The lawsuit alleges that defendants provided overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning the safety of Fly-E’s lithium battery which in turn took a material toll on its E-vehicle sales revenue, despite making lofty long-term projections, Fly-E’s forecasting processes fell short as sales continued to decline and operating expenses increased, ultimately, derailing the Company’s revenue projections.
On August 14, 2025, Fly-E filed a form NT 10-Q: Notification of inability to timely file Form 10-Q for the first quarter of fiscal year 2026 revealing a substantial decrease of 32% in net revenues “primarily driven by a decrease in total units sold.” In pertinent part, the Company attributed the decline to “recent lithium-battery accidents involving E-Bikes and E-Scooters.” As a result of the lithium battery incidents and retail store closures, Defendants expect a further decrease in retail sales revenue for the Company’s 2026 fiscal year.
On this news the price of FlyE’s common stock declined dramatically. From a closing market price of $7.76 per share on August 14, 2025, Fly-E’s stock price fell to $1.00 per share on August 15, 2025, a decline of about 87% in the span of just a single day.
The lawsuit alleges that defendants provided overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning the safety of Fly-E’s lithium battery which in turn took a material toll on its E-vehicle sales revenue, despite making lofty long-term projections, Fly-E’s forecasting processes fell short as sales continued to decline and operating expenses increased, ultimately, derailing the Company’s revenue projections.