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Important Information Regarding Section 20(a) Individual Liability Claims
NEW YORK, April 30, 2026 /PRNewswire/ -- SueWallSt alerts investors in Aldeyra Therapeutics, Inc. (NASDAQ: ALDX) of a pending securities class action naming three senior officers as individual defendants. Class Period: November 3, 2023 through March 16, 2026. Find out if you qualify to recover losses or contact Joseph E. Levi, Esq. at jlevi@SueWallSt.com | (888) SueWallSt.
ALDX shares collapsed $2.99 per share, a 70.7% single-day decline, closing at $1.24 on March 17, 2026 after the FDA issued a Complete Response Letter rejecting the Company's dry eye drug candidate reproxalap. The Court has set May 29, 2026 as the deadline to apply for lead plaintiff appointment.
The Named Individual Defendants
Todd C. Brady, the Company's Chief Executive Officer throughout the entire Class Period, is named as a defendant. Michael Alferi, who became Head of Finance, principal financial officer, and principal accounting officer on August 31, 2024, is also named. Bruce M. Greenberg, who served as interim Chief Financial Officer from May 10, 2022 through August 31, 2024, is the third individual defendant. Each personally signed SEC filings containing the statements at issue.
Section 20(a) Control Person Framework
The action contends these officers are liable as "controlling persons" under Section 20(a) of the Securities Exchange Act. As pleaded, each defendant participated in the operation and management of Aldeyra, directed the contents of reports and public filings, and exercised authority over the Company's public communications during the Class Period. Their positions gave them access to adverse non-public information about the reliability of reproxalap clinical trial data.
Sarbanes-Oxley Certification Obligations
The complaint charges that each filing officer certified the accuracy of Aldeyra's periodic reports under Sections 302 and 906 of the Sarbanes-Oxley Act. These certifications accompanied the 3Q23 Form 10-Q, the FY23, FY24, and FY25 Forms 10-K, each of which repeated claims that reproxalap had demonstrated "consistent" and "clinically relevant activity" across multiple trials. The FDA's March 2026 Complete Response Letter stated that trial results were inconsistent and that positive findings were unreliable.
Alleged Control Person Liability
"Corporate officers have a duty to ensure their companies' public statements are accurate and complete. When officers personally certify SEC filings containing statements about clinical trial performance, they bear individual responsibility for the truthfulness of those representations." -- Joseph E. Levi, Esq.
Submit your information to join the recovery or call Joseph E. Levi, Esq. at (888) SueWallSt.
WHY SUEWALLST -- Ranked in ISS Securities Class Action Services' Top 50 Report for seven consecutive years, SueWallSt is a nationally recognized leader in shareholder rights litigation. With a team of over 70 professionals, the firm has recovered hundreds of millions of dollars for investors.
Frequently Asked Questions About the ALDX Lawsuit
Q: When did Aldeyra Therapeutics allegedly mislead investors? A: The class period runs from November 3, 2023 to March 16, 2026. The alleged fraud was revealed through the FDA's Complete Response Letter disclosed on March 17, 2026, causing a 70.7% stock decline.
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, each of whom signed SEC filings and certified financial disclosures under Sarbanes-Oxley.
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 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: Do I need to go to court or give testimony? A: No. The overwhelming majority of class members never appear in court or give depositions. You submit a claim form to receive your portion of recovery.
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:
SueWallSt.
Joseph E. Levi, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
jlevi@SueWallSt.com
Tel: (888) SueWallSt
Fax: (212) 363-7171
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SOURCE SueWallSt.com
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