Lantronix, Inc. (NASDAQ: LTRX) Investor Notice: Lawsuit seeks to Recover Investor Losses


A lawsuit was filed in the U.S. District Court for the Central District of California by an investor who bought shares of Lantronix, Inc. (NASDAQ: LTRX) alleging that the company violated federal securities laws with respect to some purportedly false and misleading statements made between May 11, 2023 and February 8, 2024.

You have specific options, and for some investors, there are tight deadlines, if you bought a sizable quantity of shares of Lantronix, Inc. (NASDAQ: LTRX) between May 11, 2023 and February 8, 2024, and/or if you bought any NASDAQ: LTRX shares before May 2023 and you still own any of those shares. Priority date: April 23, 2024. NASDAQ: Investors in LTRX should get in touch with the Shareholders Foundation by phone at +1(858) 779-1554 or via email at [email protected].

Global industrial and enterprise internet of things (IoT) supplier Lantronix, Inc. is headquartered in Irvine, California. It is said to focus on high growth applications in particular verticals such artificial intelligence data centers, smart grids, intelligent transportation, and smart cities. Three product lines—Embedded IoT Solutions, IoT System Solutions, and Software & Services—are used by Lantronix, Inc. to group its goods and solutions. The company sells through a variety of channels, including its e-commerce website, distributors, resellers, and direct sales to bigger OEMs and end customers.

For its fiscal year 2024 results, Lantronix, Inc. projected in May 2023 that it would generate sales between $175 million and $185 million and non-GAAP earnings-per-share (EPS) between $0.50 and $0.60 per share.

Lantronix, Inc. released its second quarter financial results of its fiscal year 2024 on February 8, 2024. In that document, Lantronix, Inc. made a negative revision to its fiscal year 2024 guidance, stating that the company now expects non-GAAP EPS in the range of $0.35 to $0.45 per share for fiscal year 2024, as opposed to the previously provided range of $0.50 to $0.60 per share, and revenue in the range of $155 million to $165 million. Company management discussed these results on a conference call with investors and analysts. They explained that the change in our annual guidance is primarily due to lower expected sales for our embedded IOT solutions as a result of two factors: an embedded compute design win in video applications that was scheduled for revenue in the second half of fiscal 2024 but pushed into fiscal 2025, and a general slowdown in our broad-based channel business as customers work through their inventories.

On January 23, 2024, the share price of Lantronix, Inc. (NASDAQ: LTRX) was $6.90; but, on February 13, 2024, it had dropped to just $3.77.

In the complaint, the plaintiff claims that the defendants broke federal securities laws while selling common shares of Lantronix, Inc. (NASDAQ: LTRX) to buyers between May 11, 2023 and February 8, 2024. The plaintiff specifically alleges that between May 11, 2023 and February 8, 2024, the Defendants made false and/or misleading statements and/or failed to disclose that Lantronix overstated demand and/or its visibility into demand for its IoT products, that some of its embedded IOT revenues were delayed to the next fiscal year due to customer design wins, that Lantronix anticipated lower sales for its embedded IOT solutions for the fiscal year 2024 as a result of all of the aforementioned, that Lantronix was unlikely to meet its own previously issued guidance for the fiscal year 2024, and that as a result, the Company’s profits

In order to exercise their options, holders of Lantronix, Inc. (NASDAQ: LTRX) shares can get in touch with the Shareholders Foundation.

Get in touch with Investors Foundation, Inc.Michael Daniels: +1-(858)-779-1554; 3111 Camino Del Rio North, Suite 42392108, San Diego(858)[email protected] is the fax number.

About The Shareholders Foundation, Inc.: We are a professional portfolio monitoring and settlement claim filing service that keeps investors informed about securities class actions, settlements, judgments, and other legal news pertaining to the stock and financial markets. We also conduct research on shareholder issues. With a vast network of contacts, Shareholders Foundation, Inc. provides support, guidance, and aid to each and every shareholder. It is not a law firm, The Shareholders Foundation, Inc. The Shareholders Foundation is not involved in the filed, reached, or settled cases, investigations, or settlements mentioned. The public is offered this information as a service. It should not be relied upon and is not meant to be legal advice.

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