Cases / Investigations

AgEagle Aerial Systems Inc.


Wolf Popper LLP Reminds AgEagle Aerial Systems Inc. (UAVS) Investors of April 27, 2021 Lead Plaintiff Filing Deadline

NEW YORK, March 23, 2021 

Wolf Popper LLP announces that federal securities class action lawsuits have been filed in the U.S. District Court of the Central District of California against AgEagle Aerial Systems Inc. (NYSE: UAVS) and certain of its officers and directors on behalf of investors who purchased or acquired publicly traded AgEagle securities between September 3, 2019 and February 18, 2021.

The deadline for AgEagle investors to seek appointment as the lead plaintiff in the litigations is April 27, 2021. 

During the trading day on February 18, 2021, Bonitas Research published a report alleging, among other things, that AgEagle was “a pump & dump scheme orchestrated…to defraud US investors.”  The report stated how a promotional video “showing AgEagle and Amazon’s logos side by side in what appears to be an instructional video of unboxing a drone-delivered package” was “leaked” on the personal website and YouTube account of the daughter of AgEagle’s founder and former chairman.  However, while AgEagle had announced purchase orders from a “major e-commerce customer” for drones for small package delivery, Bonitas “found no evidence of any ‘major e-commerce customer’ or any drone technology credited to AgEagle other than reference to the [video].” 

On February 18, 2021, AgEagle’s stock price fell $5.13 per share, or over 36%.

The complaints allege, among other things, that the defendants made false and misleading statements or failed to disclose the material facts stated in the Bonitas Research report.

Investors who have lost over $50,000 trading in AgEagle common stock and who would like to discuss the litigations should contact Joshua Ruthizer at (212) 451-9668, (877) 370-7703, or jruthizer@wolfpopper.com.

Wolf Popper has successfully recovered billions of dollars for defrauded investors.  Wolf Popper’s reputation and expertise have been repeatedly recognized by the courts, which have appointed the firm to major positions in securities litigation.  For more information about Wolf Popper, please visit the Firm’s website at www.wolfpopper.com.

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Wolf Popper LLP
Joshua W. Ruthizer
845 Third Avenue
New York, NY 10022
Tel.: (212) 451-9668
Tel.: (877) 370-7703
Email: jruthizer@wolfpopper.com


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