AgEagle Aerial Systems, Inc. (UAVS)

Investigation 

Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of AgEagle Aerial Systems, Inc. ("AgEagle" or "the Company") (NYSE: UAVS). The investigation concerns whether AgEagle and certain of its officers and/or directors have violated federal securities laws.

 

On February 18, 2021, Bonitas Research (“Bonitas”) published a report describing the Company as “a pump & dump scheme” designed “to defraud US investors.”  The Bonitas report stated that the “rumor of a partnership between Amazon.com, Inc. . . . & 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 (the ‘Promo Video’),” and Bonitas claims to “have found no evidence of any ‘major e-commerce customer’ or any drone technology credited to AgEagle other than reference to the Promo Video.”  The Bonitas report further noted that “[i]n 4Q’20 an Amazon spokesperson disclosed to reporter Daniel McCoy of the Witchita Business Journal that Amazon specifically does not have any dealings with AgEagle whatsoever.”  On this news, AgEagle’s stock price fell sharply during intraday trading on February 18, 2021.

 

If you are aware of any facts relating to this investigation, or purchased AgEagle shares, you can assist this investigation by visiting contacting the firm. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484. 

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique.  Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients.  In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.

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