Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against AgEagle Aerial Systems Inc. (UAVS)

Shareholders with a loss of $ 10,000 or more are encouraged to contact the company

LOS ANGELES, March 29, 2021 (GLOBE NEWSWIRE) – Glancy Prongay & Murray LLP (“GPM”) is reminding investors of the upcoming development April 27, 2021 Deadline for filing a lead plaintiff motion in class action filed on behalf of investors who have intervened or otherwise acquired securities of AgEagle Aerial Systems Inc. (“AgEagle” or the “Company”) (NYSE: UAVS) September 3, 2019 and February 18, 2021including (the “Class Period”).

If you have suffered a loss on your AgEagle investments or would like to inquire about whether you may be able to make claims to recover your loss under federal securities laws, you can find your contact information at https://www.glancylaw.com/cases / submit ageagle-aerial -systems-inc /. You can also contact Charles H. Linehan of GPM at 310-201-9150, toll free at 888-773-9224, or email [email protected] to learn more about your rights.

On February 18, 2021, Bonitas Research published a report claiming, among other things, that AgEagle was a pump and dump program run by Alpha Capital Anstalt (“Alpha Capital”), AgEagle founder and former chairman Bret Chilcott, and others UAVS insiders was organized to scam US investors. The report also alleged that “in April 2020 there was a rumor of a partnership between Amazon. . . & AgEagle was started by a promotional video uploaded to the personal website and Youtube account of AgEagle’s founder and former chairman Bret Chilcott’s daughter. “However, we did not find any evidence of a ‘large e-commerce customer’.” In mid-2020, AgEagle received over $ 23 million in registered direct listing revenue. Then, in the fourth quarter of 2020, an Amazon spokesman stated that the company had no business with AgEagle.

In that news, AgEagle’s share price fell $ 5.13, or 36.4%, to close at $ 8.96 per share on February 18, 2021, hurting investors.

The complaint filed alleges that throughout the classroom period the defendants made materially false and / or misleading statements and did not disclose material adverse facts about the business, operations and prospects of the company. In particular, Defendants have failed to advise investors that: (1) AgEagle was not in partnership with Amazon and, in fact, never had any relationship with Amazon; (2) Rather than correcting the public’s understanding of partnering with Amazon, the defendants actively contributed to the rumor that AgEagle was partnering with Amazon. and (3) as a result, defendants’ statements about their business, operations and prospects were materially false and misleading and / or were unfounded at all relevant times.

The story goes on

If you bought or otherwise acquired AgEagle securities during the class period, you can move the court at the latest April 27, 2021 to seek appointment as the lead plaintiff in this alleged class action lawsuit. To be a member of the class action, you do not need to take any action at this point. You can keep an attorney of your choice or you can take no action and remain an absent member of the class action. If you would like to learn more about this class action, or if you have any questions about this announcement or your rights or interests in relation to the pending class action, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, toll free at 888-773-9224, email [email protected], or visit our website at www.glancylaw.com. When inquiring by email, please include your postal address, telephone number and the number of shares purchased.

This press release may be viewed as a solicitor’s advertisement in some jurisdictions under applicable laws and ethical rules.

contacts
Glancy Prongay & Murray LLP, Los Angeles
Charles Linehan, 310-201-9150 or 888-773-9224
[email protected]
www.glancylaw.com

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