San Diego, CA -- (SBWire) -- 04/27/2023 --An investigation was announced for long-term investors in shares of Daktronics, Inc. (NASDAQ: DAKT) concerning potential breaches of fiduciary duties by certain directors of Daktronics, Inc.
Investors who are current long term investors in Daktronics, Inc. (NASDAQ: DAKT) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm for investors in NASDAQ: DAKT stocks follows a lawsuit filed against Daktronics, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: DAKT stocks, concerns whether certain Daktronics, Inc. directors are liable in connection with the allegations made in that lawsuit.
The plaintiff alleges that, the 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.
Those who purchased shares of Daktronics, Inc. (NASDAQ: DAKT) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About:
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
Daktronics, Inc. (NASDAQ: DAKT) Long Term Investor Notice: Investigation of Potential Wrongdoing
An investigation on behalf of current long term investors in Daktronics, Inc. (NASDAQ: DAKT) shares over possible breaches of fiduciary duty by certain officers and directors was announced.