NEW YORK, NY / ACCESS Newswire / August 23, 2025 / Levi & Korsinsky notifies investors that it has commenced an investigation of Fly-E Group, Inc. ("Fly-E Group, Inc.") (NASDAQ:FLYE) concerning possible violations of federal securities laws.
Fly-E filed a Notification of Late Filing regarding its 10-Q on August 14, 2025. 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."
It is 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."
Following this news, Fly-E Group’s stock price fell over 87% on August 15, 2025. To obtain additional information, go to:
https://zlk.com/pslra-1/fly-e-group-inc-lawsuit-submission-form?prid=163205&wire=1&utm_campaign=39
or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212)363-7500.
WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States. Attorney Advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
jlevi@levikorsinsky.com
Tel: (212)363-7500
Fax: (212)363-7171
https://zlk.com/
SOURCE: Levi & Korsinsky, LLP
View the original press release on ACCESS Newswire
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