ATLANTA, April 16, 2024 (GLOBE NEWSWIRE) -- A shareholder class action lawsuit against Lantronix, Inc. (“Lantronix” or the “Company”) (NASDAQ: LTRX). The lawsuit alleges Defendants made materially false and misleading statements and/or failed to disclose material adverse information regarding the Company’s business, operations, and prospects, including allegations that: (i) Lantronix overstated demand and/or its visibility into demand for its IoT products; (ii) Lantronix’s customers were reducing elevated levels of inventory of IoT products, thereby causing a general slowdown in the Company’s business; (iii) certain of Lantronix’s embedded IoT revenues expected from a customer design win were delayed to the next fiscal year; (iv) as a result of all of the foregoing, Lantronix anticipated lower sales for its embedded IoT solutions for fiscal year 2024; and (v) accordingly, Lantronix was unlikely to meet its own previously issued guidance for fiscal year 2024.
If you bought Lantronix shares between May 11, 2023 and February 8, 2024, and suffered a significant loss on that investment, you are encouraged to discuss your legal rights by contacting Corey Holzer, Esq. at cholzer@holzerlaw.com, by toll-free telephone at (888)-508-6832 or, you may visit the firm’s website at www.holzerlaw.com/case/lantronix/ to learn more.
The deadline to ask the court to be appointed lead plaintiff in the case is April 23, 2024.
Holzer & Holzer, LLC, an ISS top rated securities litigation law firm for 2021 and 2022, dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. Since its founding in 2000, Holzer & Holzer attorneys have played critical roles in recovering hundreds of millions of dollars for shareholders victimized by fraud and other corporate misconduct. More information about the firm is available through its website, www.holzerlaw.com, and upon request from the firm. Holzer & Holzer, LLC has paid for the dissemination of this promotional communication, and Corey Holzer is the attorney responsible for its content.
CONTACT:
Corey Holzer, Esq.
(888) 508-6832 (toll-free)
cholzer@holzerlaw.com
