LOS ANGELES, Dec. 12, 2008 (GLOBE NEWSWIRE) -- Glancy Binkow & Goldberg LLP -- representing shareholders of Daktronics, Inc. -- announces 25 days remaining to move to be a lead plaintiff in the shareholder lawsuit. All persons or entities who purchased or otherwise acquired the securities of Daktronics, Inc. ("Daktronics" or the "Company") (Nasdaq:DAKT) between November 15, 2006 and April 5, 2007 inclusive (the "Class Period"), may move the Court not later than January 6, 2009, to serve as lead plaintiff; however, you must meet certain legal requirements.
If you wish to receive a copy of the Complaint, or have any questions concerning your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1801 Avenue of the Stars, Suite 311, Los Angeles, California 90067, by telephone at (310) 201-9150, Toll Free at (888) 773-9224, or e-mail to info@glancylaw.com, or visit our website at www.glancylaw.com.
The Complaint alleges that throughout the Class Period defendants knew or recklessly disregarded that their public statements concerning Daktronics' business, operations and prospects, were materially false and misleading. Specifically, the Complaint alleges that defendants' public statements were false and misleading or failed to disclose or indicate the following: (1) that large orders were being delayed; (2) that the Company was unable to control its operating expenses; (3) that the marketplace for sports and digital billboards was softening, such that the Company was not able to book sufficient orders; (4) that the Company was not performing according to internal expectations; (5) that the Company lacked adequate internal controls; and (6) as a result of the above, that the statements made by the Company and management during the Class Period lacked a reasonable basis.
On April 5, 2007, Daktronics shocked investors when it revised downward the Company's previously issued guidance for the fiscal fourth quarter ending April 28, 2007. As a result of this news, shares of Daktronics declined $5.78 per share, more than 20%, to close on April 9, 2007, at $22.13 per share, on unusually heavy volume.
Plaintiff seeks to recover damages on behalf of Class members and is represented by Glancy Binkow & Goldberg LLP, a law firm with significant experience in prosecuting shareholder lawsuits, and substantial expertise in actions involving corporate fraud.
If you are a member of the Class described above, you may move the Court, not later than January 6, 2009, to serve as lead plaintiff, however, you must meet certain legal requirements. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1801 Avenue of the Stars, Suite 311, Los Angeles, California 90067, by telephone at (310) 201-9150 or Toll Free at (888) 773-9224 or by e-mail to info@glancylaw.com.