LTRX - Kirby McInerney LLP Reminds Lantronix Inc. (LTRX) Investors of Class Action Filing and Encourages Investors to Contact the Firm | Benzinga

NEW YORK, March 07, 2024 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP reminds investors that a class action lawsuit has been filed in the U.S. District Court for the Central District of California on behalf of those who acquired Lantronix, Inc. ("Lantronix" or the "Company") (NASDAQ:LTRX) securities during the period of May 11, 2023 through February 8, 2024, inclusive ("the Class Period"). Investors have until April 23, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

[Click here to learn more about the class action]

In May 2023, Lantronix forecasted that it would achieve revenue in a range of $175 million to $185 million, as well as non-GAAP earnings-per-share ("EPS") in a range of $0.50 to $0.60 per share, for its fiscal year 2024 results. The lawsuit alleges that the Company repeatedly assured investors and analysts throughout the Class Period that this guidance for fiscal year 2024 remained unchanged, despite knowing that Lantronix's customers were experiencing elevated levels of inventory for internet of things ("IoT") products.

On February 8, 2024, Lantronix issued ...

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