#United States #Los Angeles #Securities Fraud #Glancy Prongay #Landstar System

Investigation into Securities Fraud at Landstar System, Inc.

On May 16, 2025, Glancy Prongay & Murray LLP, a prominent shareholder rights law firm based in Los Angeles, revealed ongoing investigations into Landstar System, Inc. (NASDAQ: LSTR) related to potential violations of federal securities laws. The firm is particularly focused on gathering information from investors who may have suffered losses due to these allegations.

Background of the Case

This investigation follows Landstar's alarming announcement on April 2, 2025. The company disclosed serious issues regarding a fraudulent supply chain operation which could significantly impact its financial performance. In its statement, Landstar warned investors that the fraud could adversely affect earnings per share for the first quarter of 2025, with estimates dropping between $0.35 and $0.50. This revelation prompted immediate investor concern, leading to a sharp decline in Landstar's stock price, which fell by $13.30 (8.75%) to close at $138.63 on the day after the announcement.

Moreover, on April 25, 2025, the situation worsened as Landstar acknowledged its inability to file its quarterly report on time due to ongoing evaluations pertaining to internal controls and accounting issues connected to the earlier reported fraud. This further derailed investor confidence, resulting in an additional stock price drop of $4.92 (3.5%) to $135.00, compounding the financial damage incurred by shareholders.

How Investors Can Take Action

Investors who experienced financial losses from their investments in Landstar System, Inc. are encouraged to contact Glancy Prongay & Murray LLP for a consultation about their rights and potential legal options. The law firm, with its extensive experience in securities litigation, is facilitating inquiries and providing guidance to those affected by this unfortunate situation.

Those interested can get in touch by reaching out to attorney Charles Linehan via email at [email protected] or by phone at 310-201-9150. For broader inquiries or to learn more about the investigation, potential claimants can visit Glancy Prongay & Murray's official website.

The Role of Whistleblowers

Additionally, individuals possessing non-public information regarding the fraudulent activities at Landstar may explore the options provided by the SEC Whistleblower Program. This initiative offers rewards of up to 30% for original information that contributes to recovery efforts by the SEC, hence representing another pathway for contributing to uncovering the truth behind this scandal and potentially benefiting financially as well.

About Glancy Prongay & Murray LLP

With a reputation for standing up for investors' rights, Glancy Prongay & Murray LLP has a strong history of handling complex securities litigation, having been recognized multiple times for its significant settlements on behalf of investors and consumers. The firm’s lawyers have achieved major victories across various industries, encompassing everything from corporate misconduct to antitrust actions.

In light of recent developments, affected investors are strongly encouraged to stay informed and consider their options to recover lost investments confidently. Follow Glancy Prongay & Murray LLP on social platforms for the latest updates and information.

For further insights, visit their website at www.glancylaw.com.

Stay vigilant, as these legal proceedings may evolve rapidly, impacting not only the stakeholders directly involved but also reflecting broader implications on the investor community at large.