NEW YORK, April 29, 2025 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Landstar System, Inc. (“Landstar” or the “Company”) (NASDAQ: LSTR). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether Landstar and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On April 2, 2025, Landstar disclosed that it had “identified a significant supply chain fraud[,]” which “may adversely affect Landstar’s 2025 first quarter earnings per share in a range of $0.35 to $0.50.” Accordingly, Landstar withdrew its previously issued first quarter 2025 earnings guidance.
On this news, Landstar’s stock price fell $13.30 per share, or 8.75%, to close at $138.63 per share on April 3, 2025.
Then, on April 25, 2025, Landstar disclosed that it would be unable to timely file its quarterly report, as the Company had not yet completed its ongoing evaluation of certain accounting and internal control matters related to the previously identified fraud.
On this news, Landstar’s stock price fell $4.92 per share, or 3.52%, to close at $135.00 per share on April 25, 2025.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
