Lantronix
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| Lantronix, Inc. | |
|---|---|
| Type | Public (NYSE: LTRX) |
| Founded | 1989 |
| Headquarters | Irvine, California, USA |
| Industry | Computer hardware |
| Employees | 160 (World-wide) |
| Website | www.lantronix.com |
Lantronix (Nasdaq: LTRX) is an Irvine, California based manufacturer of networking technology products including serial-to-Ethernet, serial-to-wireless and USB-to-Ethernet device servers; print and terminal servers; and secure remote IT/data center management products. Early products included the P4000 terminal server capable of communicating with LAT and TELNET protocols. In 1998, Lantronix offered a single-port external device server that enabled serial devices to be connected to Ethernet networks. Their first embedded device server, the XPort®, enabling OEMs to build networking capability into their products in 1998. Since then, Lantronix has expanded its networking product to include console servers, KVM-over-IP and remote power management products for IT equipment. Today, the companies product lines include: DeviceLinx™ - remote connectivity and control solutions for electronic equipment via the Internet; ManageLinx™ - powerful application services platform providing secure remote access to firewall-protected equipment; and SecureLinx™ - secure, remote management for IT equipment over the Internet.
[edit] Lawsuit
A lawsuit was filed in 2002 after the company restated its revenue for 18 months in 2000 and 2001 which sent the stock price from $10 to 36 cents a share by removing $7.4 million from the sales numbers. The restatement was followed by the CFO, CEO and founder being dismissed from the company. In 2006 Lantronix announced a $15.2 million settlement of a class action lawsuit filed by shareholders who lost money.[1]
[edit] References
- ^ "Lantronix settles investors' lawsuit" - The Orange County Register - December 28, 2006
Under the terms of the settlement, Lantronix was not required to provide any cash to the class action plaintiffs as all cash was contributed by its insurance carriers. However, as part of the settlement and as final consideration for the remaining settlement liability the Company agreed to issue certain Lantronix securities to the class members. These warrants, which allow class members to purchase Lantronix common stock, were issued during 2008. This lawsuit has been resolved.
