LTRX - SHAREHOLDER ALERT: Lantronix Sued for Securities Law Violations; Investors Should Contact Block & Leviton for More Information | Benzinga
BOSTON, Feb. 26, 2024 (GLOBE NEWSWIRE) -- A class action lawsuit has been filed against Lantronix Inc. (NASDAQ:LTRX) for securities law violations. Investors who purchased shares and have lost money are encouraged to contact the firm to learn more about how they might recover those losses. For more details, visit https://www.blockleviton.com/cases/ltrx.
What is this all about?
The lawsuit alleges that Lantronix overstated the demand and/or its visibility into demand for its IoT products. On February 8, 2024, Lantronix announced Q2 2024 financial results and revised its fiscal year 2024 revenue down. On a call with investors the Company revealed that "[t]he change in our annual guidance is primarily due to lower expected sales for our embedded IoT solutions as a result of two factors", ...