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

Key Dates and Disclosure Events Shareholders Need to Know

NEW YORK, April 15, 2026 /PRNewswire/ -- Levi & Korsinsky, LLP encourages investors who suffered losses in Aldeyra Therapeutics, Inc. (NASDAQ: ALDX) to contact the firm. WHO IS AFFECTED: Those who purchased ALDX securities between November 3, 2023 and March 16, 2026 may be entitled to recover damages. Find out if you are eligible to recover losses or contact Joseph E. Levi, Esq. at [email protected] or (212) 363-7500.

ALDX shares collapsed $2.99 per share, a 70.7% single-day loss, closing at $1.24 on March 17, 2026, after the FDA issued a Complete Response Letter rejecting reproxalap. Investors have until May 29, 2026 to seek lead plaintiff status.

November 3, 2023: The First Assertion of "Consistent" Clinical Results

Aldeyra filed its 3Q23 quarterly report with the SEC. The filing declared reproxalap had demonstrated "broad-based, rapid-onset activity and consistent safety across a number of Phase 2 and Phase 3 clinical trials." The securities action alleges this characterization was materially misleading because the underlying trial results were, in fact, inconsistent.

March 7, 2024: Annual Report Escalates the Claim

Four months later, the Company's FY23 annual report went further, as alleged in the lawsuit. The filing added that reproxalap showed "consistent statistically significant and clinically relevant activity across a variety of symptoms and signs, occurring as early as within minutes of dosing." Investors purchasing shares around this period relied on these representations.

February 28, 2025: The Claim Is Repeated Unchanged

Nearly a year later, the FY24 annual report contained substantively identical language about reproxalap's purported consistency. The complaint chronicles how the same misleading characterization persisted across multiple SEC filings without qualification or correction.

February 27, 2026: Final Repetition, Eighteen Days Before Rejection

The FY25 annual report, filed just eighteen days before the FDA's rejection, again asserted that reproxalap demonstrated "broad-based, rapid-onset activity and consistent safety." The action claims this final repetition occurred when the Company knew or recklessly disregarded that trial data was unreliable.

March 17, 2026: The FDA Contradicts Everything

Before the market opened, Aldeyra disclosed receipt of a Complete Response Letter. The FDA stated there was "a lack of substantial evidence" and that the "inconsistency of study results raises serious concerns about the reliability and meaningfulness of the positive findings." The stock lost over 70% of its value that day.

Chronology of Alleged Disclosure Failures

• November 2023 through February 2026: four separate SEC filings used nearly identical language claiming reproxalap trial results were "consistent"
• No filing during this 28-month span disclosed that trial results were, in fact, inconsistent
• The FDA's March 2026 letter directly contradicted the "consistent" characterization repeated across all four filings
• Each successive repetition allegedly reinforced artificial inflation in ALDX shares
• The final misleading filing came just 18 days before the FDA's rejection

"Timely disclosure of material developments is fundamental to fair and efficient markets. This timeline raises questions about why the same characterization persisted across years of filings without any acknowledgment of the inconsistencies the FDA ultimately identified." -- Joseph E. Levi, Esq.

Submit your claim before the deadline or call Joseph E. Levi, Esq. at (212) 363-7500.

ABOUT LEVI & KORSINSKY, LLP -- For over two decades, Levi & Korsinsky has represented shareholders in securities class actions. Ranked in ISS Top 50 for seven consecutive years. The window to apply for lead plaintiff closes on May 29, 2026.

Frequently Asked Questions About the ALDX Lawsuit

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 a corrective disclosure on March 17, 2026, when the FDA issued a Complete Response Letter rejecting reproxalap, causing a significant stock decline.

Q: How much did ALDX stock drop? A: Shares fell approximately 70.7%, a decline of $2.99 per share, after the Company disclosed the FDA's Complete Response Letter rejecting its lead drug candidate. Investors who purchased shares during the class period at artificially inflated prices may be entitled to compensation.

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 is a lead plaintiff and why does it matter? A: A lead plaintiff is the investor appointed by the court to represent the entire class. Lead plaintiffs are typically investors with the largest documented losses. Being appointed does not increase individual recovery but gives direct oversight of how the case is run.

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 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, LLP