EQUITY ALERT: Levi & Korsinsky, LLP Notifies Investors of an Investigation Involving Possible Securities Fraud Violations by Certain Officers and Directors of AgEagle Aerial Systems, Inc.

February 22, 2021 5:55 PM EST | Source: Levi & Korsinsky, LLP

New York, New York--(Newsfile Corp. - February 22, 2021) - Levi & Korsinsky notifies investors that it has commenced an investigation of AgEagle Aerial Systems, Inc. ("AgEagle" or the "Company") (NYSE: UAVS) concerning possible violations of federal securities laws.

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During the investor presentation on February 18, 2020, former CEO Barrett Mooney stated that the company was "actually working with a very large e-commerce company now on a 3-year agreement to produce their early-stage package delivery testing equipment." Around April 2020, investors were led to believe that this very large e-commerce company referred to was Amazon, because of a promotional video that showed the company's logo side by side with Amazon's. On February 18, 2021, Bonitas Research published a report claiming that that this was "a pump and dump scheme" by the company and its insiders, and that there was "no evidence of any 'major e-commerce customer' or any drone technology…" which ultimately resulted to a 36.41% decline of the stock price from the previous trading day's close. To obtain additional information, go to:

https://www.zlk.com/pslra-1/ageagle-aerial-systems-inc-information-request-form

or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.

Levi & Korsinsky is a nationally recognized firm with offices in New York, California, Connecticut and Washington D.C. The firm's attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/75150

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