The Firefly Aerospace class action lawsuit was filed on behalf of those who purchased or otherwise acquired Firefly Aerospace Inc. (“Firefly”) (NASDAQ: FLY) (1) common stock pursuant and/or traceable to the registration statement and related prospectus (collectively, the “Offering Documents”) issued in connection with the company’s initial public offering conducted on or about August 7, 2025 (the “IPO”); and/or (2) securities between August 7, 2025 and September 29, 2025, inclusive (the “Class Period”). Captioned Diamond v. Firefly Aerospace Inc. Et al., No. 25-cv-01812 (W.D. Tex.), the Firefly class action lawsuit alleges that Firefly and/or certain of its officers and/or directors violated federal securities laws by making false or misleading statements and/or omitted to disclose material information.
If you suffered losses as a result of your Firefly investment and want to find out more about this action and your rights, fill out the form on this page or contact attorney Jonathan Naji, Esq. of KTMC by calling (484) 270-1453 or via e-mail at info@ktmc.com.
CASE BACKGROUND:
Firefly is a space and defense technology company that purports to “enable government and commercial customers to launch, land, and operate in space – anywhere, anytime.” Operating through two business segments, Launch and Spacecraft Solutions, Firefly developed one of its flagship launch vehicles called the Alpha, which is a two-stage rocket. The development of the Alpha rocket has not been without issue, with four of its six attempted fights ending in failure. After its sixth flight failed on April 29, 2025, the Federal Aviation Administration (“FAA”) ordered Firefly to investigate the cause of the failure, identify any corrective actions necessary to avoid it repeating, submit a report of its findings, and prohibited Firefly from conducting further launch attempts until the completed investigation report was reviewed and accepted.
The Class Period begins on August 7, 2025, when Firefly conducted its IPO pursuant to the Offering Documents, selling 19.296 million shares of common stock priced at $45.00 per share. That day, Firefly’s CEO appeared on CNBC where he spoke confidently about the market and operational readiness of Firefly’s vehicles, including the Alpha, stating: “We’ve really set up ourselves for going public since our inception. We’ve got four revenue-generating products that are all mature, and we’ve got flight heritage on our Alpha rocket just on our second launch.”
On September 29, 2025, after the FAA had granted clearance about one month prior to conduct further launches of the Alpha rocket, Firefly revealed that the Alpha rocket “experienced an event that resulted in a loss of the stage.” On this news, Firefly’s stock price fell $7.66 per share, or 20.73%, to close at $29.30 per share on September 30, 2025.
The complaint alleges that, in the Offering Documents and throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material facts about the company’s business, operations, and prospects. Specifically, Defendants misrepresented and/or failed to disclose that: (1) Firefly had overstated the demand and growth prospects for its Spacecraft Solutions offerings; (2) the Alpha rocket program fell short of its purported operational readiness and commercial viability; and (3) as a result of the foregoing, Defendants’ statements about the company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
THE LEAD PLAINTIFF PROCESS:
The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Firefly common stock and/or securities during the Class Period to seek appointment as lead plaintiff in the Firefly class action lawsuit. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Filling out the online form above or communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member.
ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP:
Kessler Topaz Meltzer & Check, LLP (KTMC) is a leading U.S. plaintiff-side law firm focused on securities-fraud class actions and global investor protection. The firm represents individual investors as well as institutions, such as major pension funds, asset managers, and international investors. KTMC has led some of the largest recoveries in securities litigation and has been recognized by peers and the legal media with numerous accolades, including The National Law Journal’s Plaintiff’s Hot List and Trailblazers in Plaintiffs' Law, BTI Consulting Group’s Honor Roll of Most Feared Law Firms, The Legal Intelligencer’s Class Action Firm of the Year, Lawdragon’s Leading Plaintiff Financial Lawyers, and Law360’s Titans of the Plaintiffs Bar. The firm operates globally with offices in Pennsylvania and California. For more information about Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.