Dyer & Berens LLP Files Class Action Lawsuit on Behalf of Investors in Daktronics Inc.

DENVER, CO – November 7, 2008 – Dyer & Berens LLP today announced that it has filed a class action lawsuit in the United States District Court for the District of South Dakota on behalf of investors of Daktronics Inc. (“Daktronics” or the “Company”) (NASDAQ: DAKT) who purchased common stock between November 15, 2006 and April 5, 2007, inclusive (the “Class Period”).  The complaint charges Daktronics and certain of its officers with violations of the Securities Exchange Act of 1934.

Click here to view the Complaint.

If you wish to serve as a lead plaintiff, you must move the Court no later than January 6, 2009.  If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff’s counsel, Jeffrey A. Berens, Esq. at (888) 300-3362, (303) 861-1764, or via email at This e-mail address is being protected from spam bots, you need JavaScript enabled to view it    Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

The complaint alleges that, during the Class Period, defendants made false and misleading statements to the market about the Company, its prospects, and revenue growth rate.  For example, defendants failed to disclose that: (i) the Company was experiencing softness in its digital billboard and sports markets and was not performing according to internal expectations; (ii) several of the Company’s large orders were being delayed; and (iii) the Company was unable to control its operating expenses.  As a result, investors purchased Daktronics common stock at artificially inflated prices, while at the same time Company insiders were selling shares of their personally-held Daktronics stock for gross proceeds in excess of $2.9 million.  On February 14, 2007, the Company announced its financial results for the fiscal third quarter of 2007, including estimates for the fourth quarter.  Approximately two months later, on April 5, 2007, the Company revised its guidance by lowering its fiscal fourth quarter 2007 estimates for net sales and earnings and provided initial order growth guidance for fiscal year 2008.  These disclosures caused a precipitous fall in the price of Daktronics common stock of more than 40% from its Class Period high of $39.46 per share. 

Plaintiff seeks to recover damages on behalf of purchasers of Daktronics securities during the Class Period.  The plaintiff is represented by Dyer & Berens LLP, which has expertise in prosecuting investor class actions involving financial fraud.  The firm’s extensive experience in securities litigation, particularly in cases brought under the Private Securities Litigation Reform Act, has contributed to the recovery of hundreds of millions of dollars for aggrieved investors.  For more information about the firm, please go to www.DyerBerens.com.

Contact:

Jeffrey A. Berens, Esq.

Dyer & Berens LLP

682 Grant Street

Denver, CO 80203

Tel: (888) 300-3362 or (303) 861-1764

Website: www.DyerBerens.com

Email: This e-mail address is being protected from spam bots, you need JavaScript enabled to view it