LTRX - Robbins LLP Urges Lantronix Inc. Stockholders to Contact the Firm Before the Lead Plaintiff Deadline in the LTRX Class Action | Benzinga
SAN DIEGO, March 20, 2024 (GLOBE NEWSWIRE) -- Robbins LLP reminds investors that a shareholder filed a class action on behalf of all those who purchased or otherwise acquired Lantronix, Inc. (NASDAQ:LTRX) common stock between May 11, 2023 and February 8, 2024. Lantronix is a global industrial and enterprise internet of things ("IoT") provider of solutions that purportedly target high growth applications in specific verticals such as smart grids, intelligent transportation, smart cities, and artificial intelligence ("AI") data centers.
For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003.
The Allegations: According to the complaint, in May 2023, Lantronix forecasted that it would achieve revenue in a range of $175 million to $185 million, as well as non-GAAP2 earnings-per-share ("EPS") in a range of $0.50 to $0.60 per share, for its fiscal year 2024 results. During the class period, defendants repeatedly assured investors and analysts that this guidance for fiscal year 2024 remained unchanged, despite knowing that Lantronix's customers were experiencing elevated levels of inventory for IoT products, and that embedded IoT revenues expected from a customer design win were ...