GRABAR LAW OFFICE INVESTIGATES CLAIMS ON BEHALF OF SHAREHOLDERS OF FLY-E GROUP, INC. (NASDAQ: FLYE)
Grabar Law Office is investigating claims on behalf of shareholders of Fly-E Group, Inc. (NASDAQ: FLYE). The investigation concerns whether certain officers and directors breached the fiduciary duties they owed to the company.
Fly-E Group, Inc. is an electric vehicle (EV) company, which is engaged in designing, installing, selling, and renting smart electric motorcycles, electric bikes, electric scooters and related accessories under the brand Fly E-Bike. The Company has approximately 36 stores, including 35 retail stores in the United States and one retail store in Canada. The Company offers rental services from selected locations in New York and Los Angeles. It also sells its products through its online store at flyebike.com. The Company offers 25 E-motorcycle products, 28 E-bike products and 37 E-scooter products. It has a diversified product portfolio that is designed to satisfy the various demands of its customers and address different urban travel scenarios. The Company has produced approximately 3,842 E-motorcycles, 5,713 E-bikes and 1,480 E-scooters. It sources vehicle components from China and the United States and then assembles them into its vehicles in a facility located in Maspeth, New York.
As alleged in a recently filed federal securities fraud class action complaint, Fly-E Group, Inc. (NASDAQ: FLYE), through certain of its officers, made 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 Fly-E's revenue projections. When the true details entered the market, the lawsuit claims that investors suffered damages.
WHAT YOU CAN DO NOW: If you purchased Fly-E Group, Inc. (NASDAQ: FLYE) shares prior to July 15, 2025, and still hold shares today, you are encouraged to contact Joshua Grabar at jgrabar@grabarlaw.com, or call 267-507-6085. You can seek corporate reforms, the return of funds back to the company, and a court approved incentive award at no cost to you whatsoever. Alternatively, if you purchased Fly-E shares between July 15, 2025 and August 14, 2025, you can participate in the class action.