LOS ANGELES, April 02, 2024 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Lantronix, Inc. (“Lantronix” or “the Company”) (NASDAQ: LTRX) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company’s securities between May 11, 2023 and February 8, 2024, inclusive (the “Class Period”), are encouraged to contact the firm before April 23, 2024.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at bschall@schallfirm.com.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Lantronix overstated consumer demand for its Internet of Things (“IoT”) products. The Company’s customers were reducing IoT inventory resulting in a general slowdown in its business. Expected revenues from a customer design win were delayed to a future period. The Company was incapable of meeting its prior revenue guidance. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Lantronix, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT:
The Schall Law Firm
Brian Schall, Esq.,
www.schallfirm.com
Office: 310-301-3335
info@schallfirm.com
SOURCE:
The Schall Law Firm
