Lantronix Receives Inquiry From SEC; Company Continues Its Cooperation With the Commission
7/15/2002 - Lantronix, Inc. (Nasdaq: LTRXE) today announced that it has been informed that the Securities and Exchange Commission (SEC) has initiated a formal investigation of the Company. The Company believes that the investigation will be focused on the events leading to its recent restatement of its financial statements that were released on June 25, 2002.
Marc Nussbaum, interim president and chief executive officer, noted that, "In light of the restatement of financial results, we have been expecting the Commission to conduct a formal investigation. We have met with the SEC and are cooperating in the investigation."
About Lantronix, Inc.
Lantronix, Inc. (Nasdaq: LTRXE) is a provider of hardware and software solutions ranging from systems that allow users to remotely manage network infrastructure equipment to technologies that network-enable devices and appliances. Lantronix was established in 1989, and its worldwide headquarters are in Irvine, Calif. For more information, visit the company on the Internet at www.lantronix.com
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