NEW YORK, April 06, 2024 (GLOBE NEWSWIRE) --
WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Lantronix , Inc. (NASDAQ: NASDAQ:LTRX) between May 11, 2023 and February 8, 2024, both dates inclusive (the Class Period), of the important April 23, 2024 lead plaintiff deadline.
SO WHAT: If you purchased Lantronix securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.
WHAT TO DO NEXT: To join the Lantronix class action, go to https://rosenlegal.com/submit-form/?case_id=22783 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than April 23, 2024. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.
DETAILS OF THE CASE: According to the lawsuit, defendants made false and/or misleading statements and/or failed to disclose that: (1) Lantronix overstated demand and/or its visibility into demand for its internet of things (IoT) products; (2) Lantronix's customers were reducing elevated levels of inventory of IoT products, thereby causing a general slowdown in Lantronix'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; (5) accordingly, Lantronix was unlikely to meet its own previously issued guidance for fiscal year 2024; and (6) as a result, Lantronix's public statements were materially false and/or misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
To join the Lantronix class action, go to https://rosenlegal.com/submit-form/?case_id=22783 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
case@rosenlegal.com
www.rosenlegal.com