Lantronix, Inc.
Investors that purchased the Company’s securities and have suffered a loss, please fill in transaction information below, or email to info@portnoylaw.com.
There is no cost or obligation associated with submitting your information. If you are a shareholder who suffered a loss, please submit your contact information and purchase information to participate in the putative class action.
We also encourage you to contact Lesley F. Portnoy of The Portnoy Law Firm, at 310.692.8883, to discuss your rights free of charge. You can also reach us through the firm’s website at www.portnoylaw.com, or by email at info@portnoylaw.com.
If you choose to take no action, you can remain an absent class member.
Joining the case through the Portnoy Law website enables investors to learn about their legal claims and take an active role in recovering their losses.
The Portnoy Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
CONTACT:
Portnoy Law Firm
Lesley F. Portnoy, Esq.,
www.portnoylaw.com
Office: 310.692.8883
1800 Century Park East, Suite 600
Los Angeles, CA 90067
info@portnoylaw.com
The lawsuit alleges that Lantronix made several false and/or misleading statements and failed to disclose important information, specifically that: (1) the company significantly overestimated the demand and/or its understanding of the demand for its Internet of Things (IoT) products; (2) Lantronix’s clients were reducing their high inventory levels of IoT products, leading to an overall slowdown in the company’s business; (3) expected revenue from embedded IoT solutions, anticipated from a significant customer design win, was postponed to the following fiscal year; (4) as a consequence of these issues, Lantronix was projecting lower sales for its embedded IoT solutions in fiscal year 2024; (5) as a result, it was improbable that Lantronix would meet its own financial forecasts for fiscal year 2024; and (6) therefore, Lantronix’s public statements were materially false and/or misleading at all relevant times. The lawsuit further claims that when the true details were disclosed to the market, investors suffered financial losses.
