Cision PR Newswire

DAKT LAWSUIT ALERT: Levi & Korsinsky Notifies Daktronics, Inc. Investors of a Class Action Lawsuit and Upcoming Deadline

NEW YORK, Jan. 26, 2023 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Daktronics, Inc. ("Daktronics" or the "Company") (NASDAQ: DAKT) of a class action securities lawsuit.

CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Daktronics investors who were adversely affected by alleged securities fraud between March 10, 2022 and December 6, 2022. Follow the link below to get more information and be contacted by a member of our team:

https://www.zlk.com/pslra-1/daktronics-class-action-submission-form?prid=35926&wire=4

DAKT investors may also contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.

CASE DETAILS: 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.

WHAT'S NEXT? If you suffered a loss in Daktronics during the relevant time frame, you have until February 21, 2023 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.

WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com

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SOURCE Levi & Korsinsky, LLP

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