The law firm of Kirby McInerney LLP announces that a class action lawsuit – Diamond v. Firefly Aerospace Inc et al. – has been filed on behalf of investors who acquired Firefly Aerospace Inc. (“Firefly” or the “Company”) (NASDAQ: FLY) securities during the Company’s initial public offering (the “IPO”) conducted on or about August 7, 2025 and/or between August 7, 2025 through September 29, 2025, inclusive (“the Class Period”).

If you suffered a loss on your Firefly investments, you have until January 12, 2026 to request lead plaintiff appointment. For more information:

[CONTACT THE FIRM IF YOU SUFFERED A LOSS]

What Is This Lawsuit About? The lawsuit alleges that: (i) the Offering Documents for Firefly’s August 2025 initial public offering contained untrue statements of material fact or omitted to state other facts necessary to make the statements made not misleading and were not prepared in accordance with the rules and regulations governing their preparation; (ii) Firefly had overstated the demand and growth prospects for its Spacecraft Solutions offerings; and (iii) Firefly had overstated the operational readiness and commercial viability of its Alpha rocket program.

Firefly conducted its IPO on August 7, 2025, selling 19.296 million shares of common stock priced at $45.00 per share.

On September 22, 2025, Firefly reported its financial results for the second quarter of 2025, its first earnings report as a public company. Among other items, Firefly reported a loss of $80.3 million, or $5.78 per share, compared to $58.7 million, or $4.60 per share, for the same quarter in 2024. Firefly also reported revenue of $15.55 million, below analyst estimates of $17.25 million and down 26.2% from the same quarter in 2024. Significantly, Firefly reported revenue of only $9.2 million in its Spacecraft Solutions business segment, representing a 49% year-over-year decrease. On this news, the price of Firefly shares declined by $7.58 per share, or approximately 15.3%, from $49.52 per share on September 22, 2025 to close at $41.94 on September 23, 2025.

On September 29, 2025, Firefly disclosed that “the first stage of Firefly's Alpha Flight 7 rocket experienced an event that resulted in a loss of the stage.” Notably, Firefly CEO Jason Kim stated during the September 22, 2025 earnings call that the Company “expect[ed] to launch Flight 7 in the coming weeks.” Following on the heels of Firefly’s failed April 2025 Alpha rocket launch, the Alpha 7 test failure raised significant questions about Firefly’s ability to meet its commercial launch commitments and the viability of the Company’s technology. On this news, the price of Firefly shares declined by $7.64 per share, or approximately 20.7%, from $36.96 per share on September 29, 2025 to close at $29.32 on September 30, 2025.

[LEARN MORE ABOUT THE LAWSUIT]

The Lead Plaintiff Appointment Process. The federal securities laws permit any investor who acquired eligible securities during the class period to seek appointment as lead plaintiff in a class action lawsuit. Courts typically appoint the investor(s) with the largest financial loss in the case and the ability to represent the class rather than investors with simply the largest investment portfolio. Courts regularly appoint individual investors, whether acting alone or as a group, as lead plaintiffs. The rights of any investor who bought shares during the class period are generally already protected. However, lead plaintiffs have the power to influence case strategy and have a say in settlement decisions, as well as decisions concerning allocation of settlement funds among class members.

[LEARN MORE ABOUT THE LEAD PLAINTIFF PROCESS]

What Should I Do? If you purchased or otherwise acquired Firefly securities, have information, or would like to learn more about this investigation, please contact Lauren Molinaro of Kirby McInerney LLP by email at investigations@kmllp.com, or fill out the contact form below, to discuss your rights or interests with respect to these matters at no cost.

Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com: https://www.businesswire.com/news/home/20251112524336/en/