Firefly Aerospace Hit With Securities Class Actions Over Alleged IPO Misstatements

Overview

• Complaints filed in the U.S. District Court for the Western District of Texas cover IPO purchasers and those who bought Firefly securities between August 7 and September 29, 2025.
• Robbins LLP, Gainey McKenna & Egleston, and Robbins Geller Rudman & Dowd LLP are recruiting class members and potential lead plaintiffs ahead of a January 12, 2026 motion deadline.
• The suits allege the IPO offering documents overstated demand for Spacecraft Solutions and the operational readiness and commercial viability of the Alpha rocket program.
• Filings link investor losses to Firefly’s September 22 Q2 2025 report and a September 29 disclosure that Alpha Flight 7 lost its first stage, after which shares fell about 15% and 21% on the next trading days.
• One complaint notes the August 7 IPO priced 19.3 million shares at $45 and cites Q2 results that missed expectations, including $15.55 million in revenue and a $80.3 million loss, with Spacecraft Solutions revenue down 49% year over year.