[February 24, 2021]

AGEAGLE ALERT: Bragar Eagel & Squire, P.C. is Investigating AgEagle Aerial Systems, Inc. on Behalf of AgEagle Stockholders and Encourages Investors to Contact the Firm

Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against AgEagle Aerial Systems, Inc. (NYSE: UAVS) on behalf of AgEagle stockholders. Our investigation concerns whether AgEagle has violated the federal securities laws and/or engaged in other unlawful business practices.

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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 evidnce 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, AgEagle's stock price fell $5.13, or 36.4%, on February 18, 2021, damaging investors.

If you purchased or otherwise acquired AgEagle shares and suffered a loss, are a long term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker, Melissa Fortunato, or Marion Passmore by email at [email protected], telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.

About Bragar Eagel & Squire, P.C.:

Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210224006172/en/

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