Firefly Aerospace Securities Case Hits Jan. 12 Lead-Plaintiff Deadline as Firms Court Investors

The suit targets IPO-era statements about Spacecraft Solutions demand plus Alpha rocket readiness that preceded sharp late-September share declines.

Overview

The federal class action, captioned Diamond v. Firefly Aerospace Inc., is pending in the Western District of Texas and names the company and certain officers and directors under the 1933 and 1934 Acts.
The putative class covers purchases tied to the August 7, 2025 IPO and trades from August 7 through September 29, 2025, after the company sold about 19.296 million shares at $45.
On September 22, 2025, Firefly reported a loss of $80.3 million and revenue of $15.55 million, including $9.2 million from Spacecraft Solutions, and the stock fell about 15% the next day.
On September 29, 2025, Firefly disclosed an Alpha Flight 7 first-stage loss, and shares dropped roughly 20.7% on September 30, following prior guidance that the launch was expected in the coming weeks.
Multiple plaintiff firms are soliciting investors to seek lead-plaintiff status before January 12, 2026, and the allegations remain unproven with no class yet certified.