Case Background:
This is a federal securities fraud class action lawsuit 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”).
Firefly is a space and defense technology company that operates through two business segments, Launch and Spacecraft Solutions. In the development of the Alpha, one of Firefly’s flagship launch vehicles, the rocket saw four of its six attempted flights ending in failure and eventually the Federal Aviation Administration (“FAA”) ordered the Alpha to cease launch attempts while an investigation took place. Several months later, and one month after the FAA had granted clearance for further launches of the Alpha, the Alpha rocket “experienced an event that resulted in a loss of the stage.”
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/or misleading and/or lacked a reasonable basis at all relevant times.
Current Status of Case:
On January 12, 2026, Motions to Appoint Lead Plaintiff and Lead Counsel were filed. This action is ongoing.
If you wish to discuss this action or have any questions, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.