The Law Offices of Frank R. Cruz reminds investors of the upcoming April 23, 2024 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who acquired Lantronix, Inc. (“Lantronix” or the “Company”) (NASDAQ: LTRX) securities between May 11, 2023 and February 8, 2024, inclusive (the “Class Period”).
If you are a shareholder who suffered a loss, click here to participate.
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 …
