Law Firms Mobilize Investors in Firefly Aerospace Securities Case Ahead of Jan. 12 Deadline

The federal complaint challenges IPO disclosures following weak Q2 results that were followed by an Alpha test setback.

Overview

Robbins Geller reports the case is captioned Diamond v. Firefly Aerospace Inc., No. 25-cv-01812, in the Western District of Texas.
The putative class covers buyers of IPO shares on August 7, 2025 or securities purchased from August 7 through September 29, 2025, after the company sold 19.296 million shares at $45.
Plaintiffs claim Firefly overstated demand in its Spacecraft Solutions segment and overstated the readiness and commercial viability of the Alpha rocket program.
Shares fell about 15% on September 23 after Firefly posted a Q2 2025 loss of $80.3 million on $15.55 million in revenue, then dropped about 21% on September 30 after disclosure of an Alpha Flight 7 first-stage loss.
Levi & Korsinsky, Faruqi & Faruqi, Robbins LLP, and Robbins Geller are soliciting class members ahead of the lead-plaintiff deadline, and the allegations have not been proven.