Investigation Alert DAKT: Johnson Fistel, LLP Encourages Long-Term Investors to Contact the Firm; Should Management be Held Accountable for Investors’ Losses?
Johnson Fistel, LLP is investigating potential claims on behalf of Daktronics, Inc. (“Daktronics” or the “Company”) (NASDAQ: DAKT) against certain of its officers and directors.
If you are a current, long-term shareholder of Daktronics holding shares before March 10, 2022, you can submit your information below to join this action:
Recently a class action complaint was filed. The filed complaint alleges that defendants made false statements and/or concealed that: (1) the Company was experiencing challenges that increased costs, including supply chain disruptions, that impacted Daktronics’ ability to fund inventory levels and operations; (2) as a result, it was probable that some portion of the Company’s deferred tax assets would not be realized; (3) as a result, Daktronics was reasonably likely to record a material valuation allowance to its deferred tax assets; (4) there were material weaknesses in the Company’s internal controls over financial reporting related to income taxes; (5) the foregoing presented liquidity concerns and there was substantial doubt as to the Company’s ability to continue as a going concern; and (6) as a result of the foregoing, defendant’s positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.