LEAD PLAINTIFF DEADLINE IS JANUARY 12, 2026.
If you have suffered losses and would like to discuss your rights, please fill out this form or you may contact Jonathan Naji, Esq. at (484) 270-1453 or via e-mail at info@ktmc.com.
Case Background:
A 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”).
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 correction 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.
What is a Lead Plaintiff?
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.