SAN DIEGO, Dec. 30, 2022 (GLOBE NEWSWIRE) — The class: Robbins LLP reminds investors that a shareholder has filed a class action lawsuit on behalf of all investors who have purchased or otherwise acquired Daktronics, Inc. DACT Securities between March 10, 2022 and December 6, 2022 for violations of the Securities Exchange Act of 1934. Daktronics designs and manufactures electronic scoreboards, programmable display systems and large-screen video displays for sports, commercial and transportation applications.

What now: Shareholders in similar situations may be eligible to participate in the class action lawsuit against Daktronics, Inc. Shareholders who wish to be lead plaintiffs in the class action must file their filings by February 21, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. You do not have to be present at the case to be eligible for a recovery. Click for more information here.

All representations are on a contingency fee basis. Shareholders pay no fees or costs.

What is it about in this case: Daktronics, Inc. (DAKT) is failing to file timely SEC reports, questioning its ability to continue as a company

According to the lawsuit, the defendants failed to disclose: (1) that the company faced challenges that increased costs, including supply chain disruptions that impacted Daktronics’ ability to fund inventory and operations; (2) that as a result it was probable that a portion of the Company’s deferred tax assets would not be realized; (3) that it was probable that Daktronics would, as a result, record a material write-down on its deferred tax assets; (4) that there were material weaknesses in the Company’s internal controls over financial reporting related to income taxes; and (5) that the foregoing raised liquidity concerns and cast significant doubt on the Company’s ability to continue as a going concern.

On August 31, 2022, Daktronics issued a press release announcing its…