GlobeNewswire Inc | Mar 30, 2021 07:15PM EDT

March 30, 2021

PHILADELPHIA, March 30, 2021 (GLOBE NEWSWIRE) -- Kaskela Law LLC announces that a shareholder class action lawsuit has been filed against AgEagle Aerial Systems, Inc. (AgEagle or the Company) (NYSE: UAVS) on behalf of investors who purchased shares of the Companys securities between September 3, 2019 and February 18, 2021, inclusive (the Class Period).

AgEagle investors who have suffered an investment loss in excess of $100,000 are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (484) 258 1585, or by email at skaskela@kaskelalaw.com, to discuss this action and their legal rights and options. Additional information about participating in the action may also be found at https://kaskelalaw.com/case/ageagle-aerial-systems-inc/.

As detailed in the complaint, onFebruary 18, 2021, Bonitas Research published a report revealing, among other things, that AgEagle was a pump & dump scheme orchestrated by Alpha Capital Anstalt (Alpha Capital), AgEagle founder and former chairmanBret Chilcottand other UAVS insiders to defraud US investors. Further according to the Report, inApril 2020rumor of a partnership between Amazon . . . & AgEagle was started by a promotional video uploaded to AgEagle's founder and former chairmanBret Chilcott'sdaughters personal website and youtube account but that we have found no evidence of any major e-commerce customer. Following this news, shares of AgEagle's stock fell $5.13 per share, or over 36% in value, to close on February 18, 2021 at $2.96 per share.

IMPORTANT DEADLINE: Investors who purchased AgEagles securities during the Class Period may, no later than April 27, 2021, seek to be appointed as a lead plaintiff representative in the action. AgEagle investors who suffered an investment loss in excess of $100,000 are encouraged to contact Kaskela Law LLC to discuss this opportunity to participate in the action.

Kaskela Law LLC exclusively represents investors in securities fraud, corporate governance, and merger & acquisition litigation. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.

CONTACT:D. Seamus Kaskela, Esq.KASKELA LAW LLC18 Campus Boulevard, Suite 100Newtown Square, PA 19073(484) 258 1585(888) 715 1740www.kaskelalaw.comskaskela@kaskelalaw.com