NEW YORK, April 6, 2024 (GLOBE NEWSWIRE) —
WHY: Rosen Law Firm, a global investor rights law firm, reminds buyers of securities Lantronix Inc. (NASDAQ: NASDAQ:) between May 11, 2023 and February 8, 2024, both dates inclusive (the Class Period), of the important Deadline for lead plaintiff: April 23, 2024.
SO: 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 866-767-3653 or email case@rosenlegal.com for information on the class action. A class action 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 who acts on behalf of other class members in handling the litigation.
WHY THE ROSEN LAW: We encourage investors to select qualified advisors with a track record of success in leadership roles. Often, companies issuing warnings lack experience, resources, or any significant peer recognition. Be wise in choosing a lawyer. The Rosen Law Firm represents investors throughout the world, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has reached the largest class action settlement ever against a Chinese company. The Rosen Law Firm was Ranked #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 every year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone, the company secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named Law 360 Titan of Plaintiffs’ Lawyers. Many of the firm’s lawyers have been recognized by Lawdragon and Super Lawyers.
CASE DETAILS: According to the lawsuit, the defendants made false and/or misleading statements and/or failed to disclose that: (1) Lantronix overestimated demand and/or its visibility into demand for its Internet of Things (IoT) products; (2) Lantronix customers were reducing high inventory levels of IoT products, thereby causing an overall slowdown in Lantronix’s business; (3) some of Lantronix’s integrated IoT revenues expected from a customer design win have been deferred to the following fiscal year; (4) as a result of all of the foregoing, Lantronix expected declining sales for its integrated IoT solutions for fiscal 2024; (5) as a result, Lantronix was unlikely to comply with previously issued guidance for fiscal 2024; and (6) as a result, Lantronix’s public statements were materially false and/or misleading at all relevant times. When the true details appeared on 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 866-767-3653 or email case@rosenlegal.com for information on the class action.
No classes were certified. Until a course is certified, you are not represented by an attorney unless you retain one. You can select a lawyer of your choice. You could even remain an absent class member and do nothing at this point. An investor’s ability to participate in any potential future recovery is not dependent on serving as a 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