Levi & Korsinsky LLP
12/05/2025 | Press release | Distributed by Public on 12/05/2025 08:09
Firefly Faces Investor Suit Over Alleged Misleading Space Ambitions
Firefly Aerospace just got hit with a major securities class-action lawsuit over its August 2025 IPO.
Investors claim the company and execs overstated demand for its Spacecraft Solutions business and hyped the Alpha rocket as "flight proven" and ready for commercial launches - despite four failures in 6 tests and an FAA grounding after April's explosion.
The reality? On September 22, a Q2 earnings report showed a loss of $80 million, with revenue down 26% YoY. The stock dropped 15%.
Days later on September 29, the first stage of Firefly's Alpha Flight 7 failed right after the CEO said launch was imminent. The stock took another 21% plunge.
The lawsuit says these risks were hidden, inflating the IPO price and hurting buyers. If you bought FLY shares between August 7th and September 29th of 2025, you were harmed. Join now.
Levi & Korsinsky LLP published this content on December 05, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on December 05, 2025 at 14:09 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]