Lantronix, Inc. (NASDAQ: LTRX)

This lawsuit is for anyone who acquired securities in Lantronix, Inc. (NASDAQ: LTRX) from May 11, 2023 through February 8, 2024.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by stuffing its channels of distribution thereby overstating revenue.

On February 8, 2024, Lantronix released its second quarter 2024 financial results and lowered its full-year 2024 guidance by approximately $10 million. The Company attributed the revision to “lower expected sales” as a result of “a general slowdown in [the Company’s] broad-based channel business as customers work through their inventories,” and certain revenues slated for the second half of fiscal 2024 being pushed into 2025. On this news, the price of the Company’s stock again dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Lantronix, Inc. (NASDAQ: LTRX) from May 11, 2023 through February 8, 2024 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.