Press release
Investigation announced for Long-Term Investors in Lantronix, Inc. (NASDAQ: LTRX) over potential Wrongdoing
An investigation on behalf of current long term investors in Lantronix, Inc. (NASDAQ: LTRX) shares.
Investors who are current long term investors in Lantronix, Inc. (NASDAQ: LTRX) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm for current long term investors in NASDAQ: LTRX stocks follows a lawsuit filed against Lantronix, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: LTRX stocks, concerns whether certain Lantronix, Inc. directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the Central District of California the plaintiff alleges that 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 Lantronix's customers were reducing elevated levels of inventory of IoT products, thereby causing a general slowdown in the Company's business, that certain of Lantronix's embedded IOT revenues expected from a customer design win were delayed to the next fiscal year, that as a result of all the foregoing, Lantronix anticipated lower sales for its embedded IOT solutions for fiscal year 2024, that accordingly, Lantronix was unlikely to meet its own previously issued guidance for fiscal year 2024, and that as a result, the Company's public statements were materially false and/or misleading at all relevant times.
Those who purchased shares of Lantronix, Inc. (NASDAQ: LTRX) have certain options and should contact the Shareholders Foundation.
Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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