Cision PR Newswire
DAKT Investors Have Opportunity to Lead Daktronics, Inc. Securities Fraud Lawsuit
News provided byThe Law Offices of Frank R. Cruz, Los Angeles
Jan 24, 2023, 1:00 PM ET
LOS ANGELES, Jan. 24, 2023 /PRNewswire/ -- The Law Offices of Frank R. Cruz announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against Daktronics, Inc. ("Daktronics" or the "Company") (NASDAQ: DAKT).
Class Period: March 10, 2022 – December 6, 2022
Lead Plaintiff Deadline: February 21, 2023
If you are a shareholder who suffered a loss, click here to participate.
The complaint filed alleges that, throughout the Class Period, Defendants failed to disclose to investors: (1) that the Company was experiencing challenges that increased costs, including supply chain disruptions, that impacted Daktronics' ability to fund inventory levels and operations; (2) that, as a result, it was probable that some portion of the Company's deferred tax assets would not be realized; (3) that as a result, Daktronics was reasonably likely to record a material valuation allowance to its deferred tax assets; (4) that there were material weaknesses in the Company's internal controls over financial reporting related to income taxes; (5) that the foregoing presented liquidity concerns and there was substantial doubt as to the Company's ability to continue as a going concern; (6) as a result, Defendants' statements about its business, operations, and prospects were materially false and misleading and/or lacked reasonable basis at all relevant times.
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To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to firstname.lastname@example.org, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
SOURCE The Law Offices of Frank R. Cruz, Los Angeles