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Bronstein, Gewirtz & Grossman LLC

Vaseline 1 month ago

NEW YORK, April 21, 2024 (GLOBE NEWSWIRE) — Attorney Advertising – Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, informs investors that a class action lawsuit has been filed against Lantronix, Inc. (“Lantronix” or “the Company”) (NASDAQ: LTRX) and certain of its officers.

Class Definition:

This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Lantronix securities between May 11, 2023 and February 8, 2024, inclusive (the “Class Period”). Such investors are encouraged to join this cause by visiting the company’s website: bgandg.com/LTRX.

Case details:

The complaint alleges that Lantronix made materially false and misleading statements and/or failed to disclose material adverse information regarding the Company’s business, operations and prospects. In concrete terms, the complaint entails the following:

(1) Lantronix overestimated the demand and/or its visibility into the demand for its IoT products;

(2) Lantronix’s customers reduced increased inventory of IoT products, causing an overall slowdown in the company’s operations;

(3) certain of Lantronix’s embedded IoT revenues that were expected to be won by a customer design were deferred to the following fiscal year;

(4) as a result of all of the foregoing, Lantronix expected lower revenue for its embedded IoT solutions for fiscal year 2024; And

(5) Accordingly, Lantronix was unlikely to meet its own previously issued fiscal year 2024 guidance.

What’s next?

A class action lawsuit has already been filed. To view a copy of the Complaint, you may visit the Company’s website at bgandg.com/LTRX or contact Peretz Bronstein, Esq. or its Law Clerk and Client Relations Manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 332-239-2660. If you have suffered damage at Lantronix, you have until April 23, 2024 to request the court to appoint you as lead plaintiff. Your ability to share in any recovery does not require you to serve as lead plaintiff.

There are no costs to you

We represent investors in class actions on a contingency fee basis. This means that we will only ask the court to reimburse the out-of-pocket costs and attorneys’ fees, usually a percentage of the total recovery, if we are successful.

Why Bronstein, Gewirtz & Grossman:

Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm representing investors in securities fraud class actions and shareholder derivative lawsuits. Our firm has recovered hundreds of millions of dollars for investors across the country.

Advertising lawyer. Previous results do not guarantee comparable results.

Contact:

Bronstein, Gewirtz & Grossman, LLC

Peretz Bronstein or Yael Nathanson

332-239-2660 | [email protected]