Lantronix

LTRX

ATLANTA, GA – – (Globe Newswire – February 26, 2024) – – Holzer & Holzer, LLC has filed 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 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.

 

Registration Deadline

Lead Plaintiff Deadline Has Passed

April 23, 2024

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