PHILADELPHIA, PA / ACCESS Newswire / August 18, 2025 / Kehoe Law Firm, P.C. is investigating potential securities fraud claims on behalf of investors of Fly-E Group, Inc. ("Fly-E" or "Fly-E Group") (NASDAQ:FLYE).
On August 14, 2025, Fly-E filed a Notification of Late Filing regarding its 10-Q. 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 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."
On this news, Fly-E Group’s stock price dropped more than 87% on August 15, 2025; on August 18, 2025, Fly-E’s stock price was down another 16% during morning trading.
Fly-E investors are encouraged to complete Kehoe Law Firm’s Stockholder Information Request Form or contact Michael Yarnoff, Esq., (215) 792-6676, Ext. 804, myarnoff@kehoelawfirm.com, info@kehoelawfirm.com, to learn more about the investigation and receive a free, no-obligation evaluation of potential legal claims.
ABOUT KEHOE LAW FIRM, P.C.
Kehoe Law Firm, P.C. is a nationally recognized, plaintiff-side class action firm dedicated to protecting investors and consumers from fraud and misconduct. Our attorneys have served as Lead or Co-Lead Counsel in major securities cases, recovering over $10 billion for institutional and individual investors.
Our firm litigates securities fraud, fiduciary breaches, unfair mergers and acquisitions, and antitrust violations, while also representing whistleblowers and advocating for victims of data breaches, consumer fraud, vehicle and product defects, employment law violations, retirement plan mismanagement, and other corporate and business misconduct. With a results-driven approach, we pursue justice and substantial recoveries for those we represent.
This press release may constitute attorney advertising.
SOURCE: Kehoe Law Firm, P.C.
View the original press release on ACCESS Newswire
COMTEX_468129964/2457/2025-08-18T10:41:10