Overview

A class action lawsuit has been filed against Fly-E Group, Inc. (“Fly-E” or the “Company”) and certain of the Company’s former senior executive officers alleging violations of the federal securities laws. The Company’s common stock traded on the NASDAQ Stock Market (the “NASDAQ”) under the symbol “FLYE.”

The Fly-E class action lawsuit was brought on behalf of all persons and entities who purchased or otherwise acquired Fly-E securities between July 15, 2025, to August 14, 2025, both dates inclusive, (the “Class Period”).

Fly-E 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. The company offers e-mopeds, e-motorcycles, e-tricycles, and e-scooters; e-bikes, including city, foldable, standard; and traditional bikes. In addition, it provides accessories and spare parts, as well as offering after-sales services consisting of repair and maintenance services.

The lawsuit alleges that Defendants provided investors with material information concerning Fly-E’s revenue growth from sales of E-bikes, E-motorcycles, and E-scooters. They expressed confidence in the Company’s ability to strengthen its role as a leader in urban mobility by expanding its product and service portfolio for delivery workers, broadening its international sales network, and growing its online market presence.

At the same time, Defendants issued these positive statements while concealing material adverse facts concerning the safety of Fly-E’s lithium batteries, which significantly impacted E-vehicle sales revenue. Despite making optimistic long-term projections, Fly-E’s forecasting processes proved inadequate as sales declined and operating expenses rose, undermining its revenue outlook. These omissions and misrepresentations caused class members to purchase Fly-E’s securities at artificially inflated prices.

The truth emerged on August 14, 2025, when Fly-E filed a Form NT 10-Q revealing a 32% decrease in net revenues, primarily due to lower unit sales. The Company attributed the decline to recent lithium-battery accidents involving E-bikes and E-scooters and warned that further decreases in retail revenue were expected for fiscal year 2026 due to these incidents and related store closures.

Investors and analysts reacted swiftly to this disclosure. Fly-E’s stock price collapsed from $7.76 per share on August 14, 2025, to $1.00 per share on August 15, 2025—an 87% decline in a single trading day—leaving class members with substantial losses.

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If you purchased or otherwise acquired Fly-E securities between July 15, 2025, to August 14, 2025, both dates inclusive, and you wish to serve as lead plaintiff in this lawsuit, we encourage you to submit your information to DiCello Levitt LLP via the form on this page. 

You can also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or at investors@dicellolevitt.com. 

The deadline to apply to the Court to serve as lead plaintiff in the Fly-E class action lawsuit is November 7, 2025.