Landstar System(LSTR) Prnewswire·2025-05-16 21:00Core Viewpoint - Landstar System, Inc. is under investigation for potential violations of federal securities laws following the disclosure of significant supply chain fraud that may impact its earnings [1][2]. Financial Impact - On April 2, 2025, Landstar announced that the identified fraud could adversely affect its first quarter 2025 earnings per share by a range of 0.50, leading to the withdrawal of its previous earnings guidance [2]. - Following this announcement, Landstar's stock price dropped by 138.63 per share on April 3, 2025 [3]. - On April 25, 2025, Landstar disclosed it would be unable to timely file its quarterly report due to ongoing evaluations related to the fraud, resulting in a further stock price decline of 135.00 per share [4][3]. Legal and Investigative Actions - Glancy Prongay & Murray LLP is leading an investigation on behalf of Landstar investors regarding the potential securities law violations [1]. - Investors who have suffered losses are encouraged to inquire about pursuing claims to recover their losses [2]. - Whistleblowers with non-public information about Landstar may receive rewards under the SEC Whistleblower Program, which can total up to 30% of any successful recovery made by the SEC [6]. Company Background - Glancy Prongay & Murray LLP is a prominent law firm specializing in securities litigation and has a strong track record in recovering funds for investors [7][8].