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

Executive Accountability: Michael Alferi Named in Securities Action

NEW YORK, May 13, 2026 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors that Michael Alferi, Head of Finance, principal financial officer, and principal accounting officer of Aldeyra Therapeutics, Inc. (NASDAQ: ALDX), is named as an individual defendant in a securities class action covering purchases between November 3, 2023 and March 16, 2026. Find out if you can recover losses tied to this executive's alleged misconduct. You may also contact Joseph E. Levi, Esq. at [email protected] or (212) 363-7500.

Aldeyra shares lost $2.99 per share, a 70.7% decline, after the FDA issued a Complete Response Letter rejecting reproxalap for dry eye disease. The lead plaintiff deadline is May 29, 2026.

Michael Alferi's Role During the Class Period

Alferi assumed the role of Head of Finance, principal financial officer, and principal accounting officer on August 31, 2024, the action contends. From that date forward, Alferi co-signed Aldeyra's SEC filings alongside CEO Todd C. Brady, including the FY24 Report on Form 10-K and the FY25 Report on Form 10-K. These filings repeated claims that reproxalap had "demonstrated broad-based, rapid-onset activity and consistent safety across a number of Phase 2 and Phase 3 clinical trials," as alleged in the complaint.

What Alferi Allegedly Oversaw

As principal financial officer and principal accounting officer, Alferi bore direct responsibility for the accuracy of the Company's periodic filings, as identified in the action:

• Co-signed the FY24 Report filed February 28, 2025, which restated clinical trial efficacy claims the FDA later deemed unreliable
• Co-signed the FY25 Report filed February 27, 2026, just 18 days before the FDA's Complete Response Letter exposed the inconsistency of reproxalap trial results
• Served as principal accounting officer with oversight of disclosures that allegedly omitted material adverse information about trial reliability
• Participated in the management and day-to-day operations of Aldeyra at senior levels, as averred in the complaint

Alferi's Certifications and Liability

The complaint charges that Alferi, along with the other Individual Defendants, directly participated in drafting, producing, reviewing, and disseminating statements that were materially false and misleading. As a controlling person of Aldeyra within the meaning of Section 20(a) of the Exchange Act, Alferi allegedly exercised power and authority over the contents of reports and public filings disseminated during the Class Period.

Speak with an attorney about executive accountability claims or call (212) 363-7500.

"Individual officers who sign SEC certifications bear personal responsibility for the accuracy of corporate disclosures. When those disclosures allegedly conceal material problems, investors deserve accountability." -- Joseph E. Levi, Esq.

LEAD PLAINTIFF DEADLINE: May 29, 2026

Submit your information to pursue recovery in the ALDX action 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: Who are the defendants named in the ALDX lawsuit? A: The complaint names Aldeyra Therapeutics, Inc. and individual defendants including CEO Todd C. Brady, Head of Finance Michael Alferi, and former Interim CFO Bruce M. Greenberg, all of whom signed SEC filings during the Class Period.

Q: What specific misstatements does the ALDX lawsuit allege? A: The complaint alleges Aldeyra made materially false or misleading statements regarding the efficacy and reliability of reproxalap clinical trial results for dry eye disease. When the FDA rejected the drug, the stock price declined sharply.

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 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 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: 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, LLP