PHILADELPHIA, Feb. 26, 2021 (GLOBE NEWSWIRE) — Kaskela Law LLC announces that 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 (the “Class Period”).
AgEagle investors who have suffered an investment loss in excess of $100,000 are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (484) 258 – 1585, or by email at firstname.lastname@example.org, to discuss this action and their legal rights and options. Additional information about participating in the action may also be found at https://kaskelalaw.com/case/ageagle-aerial-systems-inc/.
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 $2.96 per share.
IMPORTANT DEADLINE: Investors who purchased AgEagle’s securities during the Class Period may, no later than April 27, 2021, seek to be appointed as a lead plaintiff representative in the action. AgEagle investors who suffered an investment loss in excess of $100,000 are encouraged to contact Kaskela Law LLC to discuss this opportunity to participate in the action.
Kaskela Law LLC exclusively represents investors in securities fraud, corporate governance, and merger & acquisition litigation. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.