Join The Class Action Suit
Company: AgEagle Aerial Systems, Inc.
A shareholder class action lawsuit has been filed against AgEagle Aerial Systems, Inc. (“AgEagle” or the “Company”) (NYSE: UAVS) on behalf of investors who purchased shares of the Company’s securities between September 3, 2019 and February 18, 2021, inclusive.
As detailed in the complaint, on February 18, 2021, Bonitas Research published a report revealing, among other things, that AgEagle “was a pump & dump scheme orchestrated by Alpha Capital Anstalt (‘Alpha Capital’), AgEagle founder and former chairman Bret Chilcott and other UAVS insiders to defraud US investors.” Further according to the Report, “in April 2020 rumor of a partnership between Amazon . . . & AgEagle was started by a promotional video uploaded to AgEagle’s founder and former chairman Bret Chilcott’s daughter’s personal website and youtube account” but that “we have found no evidence of any ‘major e-commerce customer.’” Following this news, shares of AgEagle’s stock fell $5.13 per share, or over 36% in value, to close on February 18, 2021 at $8.96 per share.
AgEagle stockholders who purchased or acquired shares of the Company’s common stock prior to February 18, 2021 are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (484) 258 – 1585, or by completing the information form on this page, for additional information about this matter and their legal rights and options.