For some reason I can only see your first image on Imgur.
If this is only leaves on the old pseudobulbs, the recent stress would be the explanation. When this kind of Dendrobium is consistently very happy it keeps its leaves for 3-4 years. When it isn't very happy it drops older leaves quite quickly. It's like work - one OH SHUCKS! wipes out hundreds of ATTABOYs!
Also, these Latouria types are very intolerant of drying out, especially when newly arrived. Don't let the medium go dry on this kind of Dendrobium unless you have very high ambient humidity.
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