NEW
YORK, March 5, 2024 /PRNewswire/ -- The Gross
Law Firm issues the following notice to shareholders of
Lantronix, Inc..
Shareholders who purchased shares of LTRX during the class
period listed are encouraged to contact the firm regarding possible
lead plaintiff appointment. Appointment as lead plaintiff is not
required to partake in any recovery.
CONTACT US HERE:
https://securitiesclasslaw.com/securities/lantronix-inc-loss-submission-form/?id=69071&from=4
CLASS PERIOD: May 11, 2023
to February 8, 2024
ALLEGATIONS: The complaint alleges that
during the class period, Defendants issued materially false and/or
misleading statements and/or failed to disclose 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.
DEADLINE: April 23, 2024
Shareholders should not delay in registering for this class action.
Register your information here:
https://securitiesclasslaw.com/securities/lantronix-inc-loss-submission-form/?id=69071&from=4
NEXT STEPS FOR SHAREHOLDERS: Once you register as a
shareholder who purchased shares of LTRX during the timeframe
listed above, you will be enrolled in a portfolio monitoring
software to provide you with status updates throughout the
lifecycle of the case. The deadline to seek to be a lead plaintiff
is April 23, 2024. There is no cost
or obligation to you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is a nationally
recognized class action law firm, and our mission is to protect the
rights of all investors who have suffered as a result of deceit,
fraud, and illegal business practices. The Gross Law
Firm is committed to ensuring that companies adhere to responsible
business practices and engage in good corporate citizenship. The
firm seeks recovery on behalf of investors who incurred losses when
false and/or misleading statements or the omission of material
information by a company lead to artificial inflation of the
company's stock. Attorney advertising. Prior results do not
guarantee similar outcomes.
CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (646) 453-8903
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SOURCE The Gross Law Firm