Lantronix Inc.

Neilsen v. Lantronix, Inc. et al., (Case No. 8:24-cv-00385), C.D. Cal.

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The lawsuit alleges that Lantronix overstated the demand and/or its visibility into demand for its IoT products. On February 8, 2024, Lantronix announced Q2 2024 financial results and revised its fiscal year 2024 revenue down. On a call with investors the Company revealed that “[t]he change in our annual guidance is primarily due to lower expected sales for our embedded IoT solutions as a result of two factors”, namely, “[a] general slowdown in our broad-based channel business as customers work through their inventories, and an embedded compute design win in video application that was slated for revenue in the second half of fiscal 2024 that pushed into fiscal 2025.” Shares of Lantronix stock dropped 32.5% on February 9, 2024.

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