The Law Offices of Frank R. Cruz Announces Investigation of Lantronix, Inc. (LTRX) on Behalf of Investors
The Law Offices of Frank R. Cruz Announces Investigation of Lantronix, Inc. (LTRX) on Behalf of Investors
LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation of Lantronix, Inc. (“Lantronix” or the “Company”) (NASDAQ: LTRX) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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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, Lantronix’s stock price fell $1.89, or 32.5%, to close at $3.92 per share on February 9, 2024, thereby injuring investors.
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If you purchased Lantronix securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
fcruz@frankcruzlaw.com
www.frankcruzlaw.com
