Bernstein Liebhard, a nationally acclaimed investor rights law firm, reminds investors of the deadline to file a lead plaintiff motion in a securities class action lawsuit that has been filed on behalf of investors who purchased or acquired the securities of AgEagle Aerial Systems, Inc. (“AgEagle” or the “Company”) from September 3, 2019, through February 18, 2021 (the “Class Period”). The lawsuit filed in the United States District Court for the Central District of California alleges violations of the Securities Exchange Act of 1934.
If you purchased AgEagle securities, and/or would like to discuss your legal rights and options please visit AgEagle Shareholder Class Action Lawsuit or contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com
The complaint alleges that throughout the Class Period, defendants made materially false and/or misleading statements, as well as failed to disclose to investors: (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 AgEagles business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
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.
If you wish to serve as lead plaintiff, you must move the Court no later than April 27, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.
If you purchased AgEagle securities, and/or would like to discuss your legal rights and options please visit https://www.bernlieb.com/cases/ageagleaerialsystemsinc-uavs-shareholder-class-action-lawsuit-stock-fraud-367/apply/ or contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for ten consecutive years.
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Matthew E. Guarnero
Bernstein Liebhard LLP