NEW YORK, May 14, 2025 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Organon & Co. (NYSE:OGN), Aldeyra Therapeutics, Inc. (NASDAQ:ALDX), Landstar System, Inc. (NASDAQ:LSTR), and ICU Medical, Inc. (NASDAQ: ICUI). Our investigations concern whether these companies have violated the federal securities laws and/or engaged in other unlawful business practices. Additional information about each case can be found at the link provided.
Organon & Co. (NYSE:OGN)
On May 1, 2025, Organon reported mixed Q1 FY25 results, missing expectations on revenue decline of 7% y/y to $1.51B. The majority of the decline was attributed to a 17% y/y decline in Biosimilars and an 11% y/y drop in Established Brands on the loss of Atozet exclusivity. On the back of these results, OGN announced it was cutting its dividend from $0.28 to $0.02 (a decrease of more than 92%).
Following this news, the price of Organon stock fell more than 28% on the same day.
For more information on the Robinhood investigation go to: https://bespc.com/cases/OGN
Aldeyra Therapeutics, Inc. (NASDAQ:ALDX)
On April 3, 2025, Aldeyra issued a press release "announc[ing] receipt of a Complete Response Letter from the U.S. Food and Drug Administration (FDA) for the resubmission of the New Drug Application (NDA) of reproxalap, an investigational drug candidate, for the treatment of dry eye disease." The press release specified that "[a]lthough no manufacturing or safety issues with reproxalap were identified, the FDA stated in the letter that the NDA ‘failed to demonstrate efficacy in adequate and well controlled studies in treating ocular symptoms associated with dry eyes' and that ‘at least one additional adequate and well controlled study to demonstrate a positive effect on the treatment of ocular symptoms of dry eye' should be conducted." The press release further stated that "[t]he letter identified concerns with the data from the trial submitted to the NDA that may have affected interpretation of the results, which the FDA stated may be related to methodological issues, including a difference in baseline scores across treatment arms." On this news, Aldeyra's stock price fell sharply during intraday trading on April 3, 2025.
For more information on the Aldeyra investigation go to: https://bespc.com/cases/ALDX
Landstar System, Inc. (NASDAQ:LSTR)
On April 2, 2025, Landstar revealed that it had "identified a significant supply chain fraud." The Company said "this fraud may adversely affect Landstar's 2025 first quarter earnings per share in a range of $0.35 to $0.50." As a result, Landstar withdrew its previously issued first quarter 2025 earnings guidance. Following this news, Landstar stock dropped. Then, on April 25, 2025, Landstar announced that it would be unable to timely file its quarterly report as it had not yet completed its ongoing evaluation of certain accounting and internal control matters related to the previously identified fraud. Following this news, Landstar stock again dropped, thereby damaging investors.
For more information on the Landstar investigation go to: https://bespc.com/cases/LSTR
ICU Medical, Inc. (NASDAQ: ICUI)
On April 22, 2025, ICU disclosed receipt of a warning letter from the U.S. Food and Drug Administration (“FDA”), citing unauthorized changes to two of the Company’s infusion pump products. The FDA’s warning letter stated that the pumps were “adulterated” and “misbranded,” noting that the Company's modifications “can significantly impact the functionality of the device with respect to the infusion pumps delivery profile, [and] alarm functionality.” The FDA further stated that these changes may have significantly impacted the safety and efficacy of the devices, raising concerns about the adequacy of ICU’s regulatory disclosures.
On this news, ICU’s stock price fell $6.04 per share, or 4.42%, to close at $130.68 per share on April 22, 2025.
For more information on the ICU Medical investigation go to: https://bespc.com/cases/ICUI
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.
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Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
