NEW YORK, NY / ACCESSWIRE / April 16, 2024 / If you suffered a loss on your Lantronix, Inc. (NASDAQ:LTRX) investment and want to learn about a potential recovery under the federal securities laws, follow the link below for more information:
https://zlk.com/pslra-1/lantronix-inc-lawsuit-submission-form?prid=75695&wire=1
or contact Joseph E. Levi, Esq. via email at [email protected] or call (212) 363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: A class action securities lawsuit was filed against Lantronix, Inc. that seeks to recover losses of shareholders who were adversely affected by alleged securities fraud between May 11, 2023 and February 8, 2024.
CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (i) Lantronix overstated demand and/or its visibility into demand for its IoT products, network-enabled devices, excluding traditional computers like laptops and servers; (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; (v) accordingly, Lantronix was unlikely to meet its own previously issued guidance for fiscal year 2024; and (vi) as a result, the Company's public statements were materially false and/or misleading at all relevant times.
WHAT'S NEXT? If you suffered a loss in Lantronix, Inc. stock during the relevant time frame - even if you still hold your shares - go to https://zlk.com/pslra-1/lantronix-inc-lawsuit-submission-form?prid=75695&wire=1 to learn about your rights to seek a recovery. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States. Attorney Advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171
https://zlk.com/
SOURCE: Levi & Korsinsky, LLP