Landstar System, Inc. (NASDAQ: LSTR)

This investigation is for anyone who acquired securities in Landstar System, Inc. (NASDAQ: LSTR) prior to April 25, 2025.

The Law Offices of Howard G. Smith believes that the Company and certain of its executives violated federal law. Specifically, the Law Offices of Howard G. Smith believes that the Company misled investors regarding its financial condition. More specifically, the Law Offices of Howard G. Smith believes that the Company misled investors by telling investors that the Company had in place sufficient financial controls to detect fraud but then by failing to have those controls in place so that the Company failed to catch significant supply chain fraud.

On April 2, 2025, Landstar disclosed that it had “identified a significant supply chain fraud.” The Company disclosed “this fraud may adversely affect Landstar’s 2025 first quarter earnings per share in a range of $0.35 to $0.50.” As a result, Landstar withdrew its previously issued first quarter 2025 earnings guidance. On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume. Then, on April 25, 2025, Landstar disclosed it would be unable to timely file its quarterly report as it had not yet completed its ongoing evaluation of certain accounting and internal control matters related to the previously identified fraud. On this news, the price of the Company’s stock again dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Landstar System, Inc. (NASDAQ: LSTR) prior to April 25, 2025 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.