LTRX - LTRX INVESTOR ALERT: Kirby McInerney LLP Reminds Lantronix Inc. Investors of Upcoming Lead Plaintiff Deadline in Class Action Lawsuit | Benzinga
NEW YORK, March 25, 2024 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP reminds investors of the April 23, 2024 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed 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").
[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 a press release announcing its financial results for the second quarter ...