ALDX Investor Alert: Aldeyra Therapeutics Securities Fraud Lawsuit - Investors With Losses May Seek to Lead the Class Action After Company Allegedly Submitted Incomplete Disclosures: Levi & Korsinsky

Disclosure Under Scrutiny: Were Risk Warnings About Reproxalap Adequate?

NEW YORK, April 29, 2026 /PRNewswire/ -- Levi & Korsinsky, LLP examines the adequacy of Aldeyra Therapeutics, Inc.'s (NASDAQ: ALDX) risk disclosures in connection with a pending securities class action. Find out if your losses qualify for recovery. You may also contact Joseph E. Levi, Esq. at [email protected] or (212) 363-7500.

ALDX shares lost $2.99 per share, a 70.7% decline, after the FDA's Complete Response Letter exposed what the agency called "inconsistency of study results" and a "lack of substantial evidence." The lead plaintiff deadline is May 29, 2026.

What the Company Disclosed

Across multiple annual and quarterly SEC filings between November 2023 and February 2026, Aldeyra used nearly identical language to describe reproxalap's clinical profile. Each filing stated the drug candidate "demonstrated broad-based, rapid-onset activity and consistent safety across a number of Phase 2 and Phase 3 clinical trials" and showed "consistent statistically significant and clinically relevant activity across a variety of symptoms and signs."

What the Complaint Challenges as Missing

The securities action contends these disclosures omitted critical context:

• The results of the reproxalap clinical trials were allegedly inconsistent across studies
• The inconsistency allegedly rendered positive findings unreliable and not meaningful
• SEC filings repeated the same optimistic language verbatim for over two years without updating investors on known data inconsistencies
• The FDA ultimately concluded the "totality of evidence from the completed clinical trials does not support the effectiveness of the product"
• No filing during the Class Period disclosed that trial data raised "serious concerns about the reliability and meaningfulness of the positive findings"

Why Generic Warnings May Not Protect

The complaint alleges that Aldeyra's repeated characterization of reproxalap's results as "consistent" was not a forward-looking projection protected by safe harbor provisions. Rather, the lawsuit asserts these were statements of present fact about completed clinical trials, facts the company knew or recklessly disregarded were misleading. When the FDA's March 2026 Complete Response Letter directly contradicted years of company representations, shares collapsed.

Speak with an attorney about recovering your ALDX losses or call (212) 363-7500.

"Generic risk factor language cannot substitute for disclosing specific, known problems that are already affecting a company's operations. When a company describes clinical data as 'consistent' while the underlying results allegedly tell a different story, investors deserve better." -- Joseph E. Levi, Esq.

LEAD PLAINTIFF DEADLINE: May 29, 2026

Submit your information to protect your rights in the ALDX case or contact Joseph E. Levi, Esq. at (212) 363-7500.

Levi & Korsinsky, LLP, Top 50 securities litigation firm (ISS, seven consecutive years). Over 70 professionals. Hundreds of millions recovered for investors.

Frequently Asked Questions About the ALDX Lawsuit

Q: What specific misstatements does the ALDX lawsuit allege? A: The complaint alleges Aldeyra made materially false or misleading statements regarding the consistency and reliability of reproxalap clinical trial results during the Class Period. When the FDA's Complete Response Letter revealed that study results were inconsistent and positive findings unreliable, the stock price declined sharply.

Q: When did Aldeyra allegedly mislead investors? A: The Class Period runs from November 3, 2023 to March 16, 2026. The alleged fraud was revealed through the FDA's Complete Response Letter disclosed on March 17, 2026, causing a 70.7% stock decline.

Q: What do ALDX investors need to do right now? A: Gather brokerage records including purchase dates, share quantities, and prices paid. Contact Levi & Korsinsky for a free, no-obligation evaluation at [email protected] or (212) 363-7500. No immediate action is required to remain eligible as a class member.

Q: What if I already sold my ALDX shares -- can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold them. Investors who bought during the Class Period and sold at a loss may still participate.

Q: Do I need to go to court or give testimony? A: No. The overwhelming majority of class members never appear in court or give depositions. You submit a claim form to receive your portion of recovery.

Q: What does it cost me to participate? A: Nothing. Securities class actions are handled on a pure contingency basis. No upfront fees, no retainer, no out-of-pocket costs.

Q: What if I missed the lead plaintiff deadline? A: The deadline applies only to investors seeking lead plaintiff appointment. Class members who miss it can still participate in any settlement or recovery.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171

SOURCE Levi & Korsinsky