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LTRX.US
id: 1114

Lantronix (LTRX) Missed Guidance Case

C.D. California
Court
8:24-cv-00385
Case number
05 Nov 2023
Class period Start
02 Aug 2024
Class period End
23 Apr 2024
Lead Plaintiff motion deadline
  • $LTRX stockholder filed a claim vs. Lantronix for overstating demand for its IoT products and IoT solutions.
  • In February, the guidance cut caused $LTRX to fall 32.5%, losing over $70.8M in shareholder value.
On February 8, 2024, Lantronix (LTRX) reported disappointing Q2’ 2024 results and lowered its full-year sales guidance.

The company stated that the change in annual guidance was due to lower expected sales as a result of two factors:
  • Slowdown in company’s broad-based channel business as customers work through their inventories, and
  • Revenue from an embedded compute design win in video applications pushed from fiscal 2024 into fiscal 2025.
On this news, $LTRX declined 32.5% and lost over $70.8 million of its market capitalization, seriously damaging shareholders.

Considering all the representations, investors have reasons to suspect Lantronix of overstating broad-based channel business and embedded compute design win in video applications outcomes, that led to investor losses when revealed.

The first affected investor already filed an initial claim vs. Latronix in C.D. California court.
Alleged Offence
Misleading Statements
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
09 February 2024
Filing date
23 February 2024
Lead Plaintiff Deadline
23 April 2024
Collecting participants…

Lantronix Inc

Lantronix, Inc. provides solutions for video surveillance, infotainment systems, and intelligent substations infrastructure in the Americas, Europe, the Middle East, Africa, and the Asia Pacific Ja...

    Ticker
    LTRX.US
    ISIN
    US5165482036
    CIK
    1114925
    Sector
    Technology
    Industry
    Communication Equipment
    Country
    USA
    Address
    48 Discovery, Irvine, CA, United States, 92618