AGEAGLE CLASS ACTION REMINDER
Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $50,000 In AgEagle Aerial Systems, Inc. To Contact Him Directly To Discuss Their Options
NEW YORK, NY - ( NewMediaWire ) - April 10, 2021 - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against AgEagle Aerial Systems, Inc. (“AgEagle” or the “Company”) (NYSE:UAVS) and reminds investors of the April 27, 2021 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you suffered losses exceeding $50,000 investing in AgEagle stock or options between September 3, 2019 and February 18, 2021 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/UAVS.
There is no cost or obligation to you.
Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Delaware, Pennsylvania, California and Georgia.
As detailed below, the lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) AgEagle did not have a partnership with Amazon and in fact never had any relationship with Amazon; (2) rather than correct the public’s understanding about a partnership with Amazon, defendants were actively contributing to the rumor that AgEagle had a partnership with Amazon; and (3) as a result, defendants’ statements about AgEagle’s business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
On February 18, 2021, Bonitas Research published a report revealing that AgEagle “was a pump & dump scheme orchestrated by . . . AgEagle founder and former chairman Bret Chilcott and other UAVS insiders to defraud US investors.”
On this news, shares of AgEagle fell $5.13, or 36.4%, to close at $8.96 on February 18, 2021, damaging investors.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding AgEagle’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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