Shawn Lopez v. AgEagle Aerial Systems, Inc.

I. INTRODUCTION

Plaintiff Shawn Lopez filed this proposed securities class action against defendants AgEagle Aerial Systems, Inc. (“AgEagle”), J. Michael Drozd, Nicole Fernandez- McGovern, Bret Chilcott, and Barrett Mooney (collectively “defendants”) on February 26, 2021. See Dkt. 1 (‘Compl.”). The complaint alleges claims against defendants for: (1) violation of Section 10(b) of the Securities Exchange Act of 1934 (the “Exchange Act’), 15 U.S.C. § 78)(b), and SEC Rule 10b-5; and (2) violation of Section 20(a) of the Exchange Act. Compl. §§ 44-58. Movants Dean M. Harmon, Jr., Qian Zhao, Peter A. Young, Johnavo Chris Bradley, Iesada Nariyoshi, and Joseph Samia (collectively, “movants”’) are plaintiff-investors in AgEagle who claim to have suffered losses caused by defendants’ securities law violations as a result of alleged false statements in furtherance of a “pump & dump scheme |...]to defraud US investors” between September 3, 2019 and February 18, 2021. Id. ff 1, 32. Before the Court are each movant’s motions to consolidate this action with Cristian Jesus Merino Madrid v. AgEagle Aerial Systems, Inc. et al., 2:21-cv-01991-CAS-E (C_D. Cal.) (the…