According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose, among other things, that:
- the Company was experiencing challenges that increased costs, including supply chain disruptions, that impacted Daktronics’ ability to fund inventory levels and operations;
- as a result, it was probable that some portion of the Company’s deferred tax assets would not be realized;
- as a result, Daktronics was reasonably likely to record a material valuation allowance to its deferred tax assets;
- there were material weaknesses in the Company’s internal controls over financial reporting related to income taxes;
- the foregoing presented liquidity concerns and there was substantial doubt as to the Company’s ability to continue as a going concern; and
- 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.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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