INVESTIGATION ALERT: The Schall Law Firm Announces it is Investigating Claims Against Daktronics, Inc. and Encourages Investors with Losses to Contact the Firm

LOS ANGELES–(BUSINESS WIRE)–The Schall Law Firm, a national shareholder rights litigation firm, announced that it is investigating claims on behalf of investors of Daktronics, Inc. (“Daktronics” or “the Company”) (NASDAQ: DAKT) for violations of the securities laws.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Daktronics disclosed on December 6, 2022, that it would be incapable of filing its quarterly report for the period ended on October 29, 2022, in a timely manner, as well as admitting “substantial doubt” about its ability to stay in business. The Company added that recent financial decisions had “created a covenant violation under our line of credit agreement.” The Company added, “in light of the substantial doubt in our ability to continue as a going concern and our related evaluation of the income tax implications of reaching this conclusion, the Company also expects to conclude that its disclosure controls and procedures and internal control over financial reporting were not effective as a result of material weaknesses.” Based on this news, shares of Daktronics fell by more than 39% on the next day.

If you are a shareholder who has suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.comor by email at [email protected].

The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable laws and rules of ethics.

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