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DAKT.US
id: 525, Created by Stan Vick Chase, Scout
Daktronics Unexpected Going Concern Case
How it works?
- We find Attorney for the Case
- Attorney files case on behalf of Investors
- You get updates and receive payout in case of success
Would it cost me anything?
- No, you do not pay anything out of your pocket neither to us, nor to Attorney
- Attorneys get % fee in case of success
- Platform charges service fee from Attorneys
What are the chances for success?
Every Case is unique, but statistically, 47% of Cases end up with a settlement.
Please see below recent successful cases:
How it works?
- We find Attorney for the Case
- Attorney files case on behalf of Investors
- You get updates and receive payout in case of success
Would it cost me anything?
- No, you do not pay anything out of your pocket neither to us, nor to Attorney
- Attorneys get % fee in case of success
- Platform charges service fee from Attorneys
What are the chances for success?
Every Case is unique, but statistically, 47% of Cases end up with a settlement.
Please see below recent successful cases:
On December 6, 2022, Daktronics stated with the SEC that it would be unable to timely file its Quarterly Report for the period ended October 29, 2022, and that there is “substantial doubt” about the Company’s ability to continue as a going concern.
- Daktronics also reported that it recorded a valuation allowance of approximately $13.0 million for deferred tax assets, which “created a covenant violation under our line of the credit agreement.”
- 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.”
On this news, Daktronics’ share dropped 39% and the Company lost over $59 million of its capitalization, thereby injuring investors.
Investors have reasons to suspect that the Company, its Leaders, and its Services providers could have committed gross negligence in the management of the Company and disclosure of information to shareholders.
Alleged Offence
Mismanagement,
Financial Misrepresentation,
Failure to Disclose,
Malpractice,
Negligence,
Breach of Fiduciary duty,
Omissions
Suspected Party
Directors,
Management,
Service Provider
Security Type
Stocks
Trade Direction
Long
Shock Event Date
06 December 2022