LTRX Investors: Robbins LLP Reminds Shareholders Of The Lantronix, Inc. (LTRX) Class Action Lawsuit

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SAN DIEGO– (ÜZLETI Huzal) -$LTRX #AI-Robbins LLP reminds investors that a shareholder filed a class action on behalf of all those who purchased or otherwise acquired Lantronix, Inc. (NASDAQ: LTRX) common stock between May 11, 2023 and February 8, 2024. Lantronix is a global industrial and enterprise internet of things (“IoT”) provider of solutions that purportedly target high growth applications in specific verticals such as smart grids, intelligent transportation, smart cities, and artificial intelligence (“AI”) data centers.

További információért küldje el a forma, email ügyvéd, Aaron Dumas, Jr., vagy hívjon minket a (800) 350-6003 telefonszámon.

A vádak: According to the complaint, in May 2023, Lantronix forecasted that it would achieve revenue in a range of $175 million to $185 million, as well as non-GAAP2 earnings-per-share (“EPS”) in a range of $0.50 to $0.60 per share, for its fiscal year 2024 results. During the class period, defendants repeatedly assured investors and analysts that this guidance for fiscal year 2024 remained unchanged, despite knowing that Lantronix’s customers were experiencing elevated levels of inventory for IoT products, and that embedded IoT revenues expected from a customer design win were pushed out to the next fiscal year.

Plaintiff contends that during the class period, defendants failed to disclose 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 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.

On February 8, 2024, Lantronix issued disappointing financial results for the second quarter of its fiscal year 2024, negatively revising its fiscal year 2024 guidance to expect revenue in a range of $155 million to $165 million and non-GAAP EPS in a range of $0.35 to $0.45 per share. On this news, Lantronix’s stock price fell $1.89 per share, or 32.53%, to close at $3.92 per share on February 9, 2024.

És most: You may be eligible to participate in the class action against Lantronix, Inc. Shareholders who want to serve as lead plaintiff for the class must file their papers with the court by April 23, 2024. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click itt.

Minden képviselet rendkívüli díj alapon történik. A részvényesek nem fizetnek díjat vagy költséget.

A Robbins LLP-ről: Egyes ügyvédi irodák, amelyek közleményt adnak ki az ügyben, valójában nem perelnek értékpapír-csoportos kereseteket; A Robbins LLP igen. A részvényesi jogokkal kapcsolatos perek elismert vezetője, ügyvédei és munkatársai Robbins LLP 2002 óta elkötelezettek a részvényesek veszteségeinek megtérülésében, a vállalatirányítási struktúrák javításában és a vállalati vezetők felelősségre vonásának segítésében. Megalakulásunk óta több mint 1 milliárd dollárt kaptunk részvényeseink számára.

To be notified if a class action against Lantronix, Inc. settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for StockWatch Ma.

Ügyvédi Reklám. A korábbi eredmények nem garantálják a hasonló eredményt.

Kapcsolatok

Aaron Dumas, Jr.

Robbins LLP

5060 Shoreham Pl., Ste. 300

San Diego, CA 92122

adumas@robbinsllp.com
(800) 350-6003

www.robbinsllp.com