Lantronix, Inc.

Ticker: LTRX

Class Period Start: 05/11/2023

Class Period End: 02/08/2024

Registration Deadline: 04/23/2024

A securities class action has been filed in the USDC – C.D.CA. against Lantronix, Inc. (LTRX) (“Lantronix” or the “Company”), on behalf of all persons and entities that purchased or otherwise acquired Lantronix securities between May 11, 2023 and February 8, 2024, both dates inclusive (the “Class Period”).


Lantronix is a global industrial and enterprise internet of things (“IoT”)[1] 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. The Company organizes its products and solutions into three product lines: (i) Embedded IoT Solutions, (ii) IoT System Solutions, and (iii) Software & Services. The Company’s sales channels are comprised of distributors, resellers, and direct sales to larger original equipment manufacturers (“OEMs”) and end users, as well as through its ecommerce site.


The Complaint alleges that defendants made materially false and misleading statements and/or failed to disclose material adverse information regarding the Company’s business, operations, and prospects, including allegations that:


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

(2) Lantronix’s customers were reducing elevated levels of inventory of IoT products, thereby causing a general slowdown in the Company’s business;

(3) certain of Lantronix’s embedded IoT revenues expected from a customer design win were delayed to the next fiscal year;

(4) as a result of all the foregoing, Lantronix anticipated lower sales for its embedded IoT solutions for fiscal year 2024; and

(5) accordingly, Lantronix was unlikely to meet its own previously issued guidance for fiscal year 2024; and

(6) as a result, the Company’s public statements were materially false and/or misleading at all relevant times, thereby harming investors.


If you purchased Lantronix securities during the Class Period and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.


About Lowey Dannenberg

Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.


[1]  “IoT” generally refers to network-enabled devices, excluding traditional computers like laptops and servers.

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