AgEagle Investor Alert

New York, New York--(Newsfile Corp. - March 15, 2021) -  Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against AgEagle Aerial Systems, Inc. ("AgEagle" or the "Company") (NYSE:UAVS).

If you suffered losses exceeding $50,000 investing in AgEagle stock or options and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: http://www.faruqilaw.com/UAVS.

There is no cost or obligation to you.

Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Delaware, Pennsylvania, California and Georgia.

The lawsuit focuses on whether the company made false and/or misleading statements and/or failed to disclose that: (1) AgEagle did not have a partnership with Amazon and in fact never had any relationship with Amazon; (2) rather than correct the public's understanding about a partnership with Amazon, defendants were actively contributing to the rumor that AgEagle had a partnership with Amazon; and (3) as a result, defendants' statements about AgEagle's business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Specifically, on February 18, 2021, Bonitas Research published a report alleging, among other things, that AgEagle "was a pump & dump scheme orchestrated by Alpha Capital Anstalt ('Alpha Capital'), AgEagle founder and former chairman Bret Chilcott and other UAVS insiders to defraud US investors." The report also alleged that "in April 2020 rumor of a partnership between Amazon . . . & 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" but that "we have found no evidence of any 'major e-commerce customer.'" In mid-2020, AgEagle received over $23 million in proceeds from registered direct offerings. Then, in fourth quarter 2020, an Amazon spokesperson stated that the company does not have any dealings with AgEagle whatsoever.

On this news, the Company's stock price fell sharply during intraday trading on February 18, 2021.

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