Alta Fox Files Federal Lawsuit to Stop Daktronics’ Latest Reactionary Entrenchment Maneuver
Daktronics, Inc. (DAKT)
Last daktronics, inc. earnings: 5/29 07:30 am
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US:NASDAQ Investor Relations:
investor.daktronics.com
Company Research
Source: Business Wire
Believes the Board’s Plan to Reincorporate in Delaware and Eliminate Cumulative Voting is Designed to Protect Underperforming Directors at Shareholders’ ExpenseHighlights Daktronics’ Attempt to Deflect from Shareholders’ Calls to Immediately Declassify the BoardShares that Alta Fox Has Filed a Preliminary Proxy Statement to Solicit Shareholder Votes AGAINST the Company’s Reincorporation Proposal at the Upcoming Special Meeting DALLAS--(BUSINESS WIRE)--Alta Fox Capital Management, LLC (together with its affiliates, “Alta Fox” or “we”), the largest shareholder of Daktronics, Inc. (NASDAQ: DAKT) (“Daktronics” or the “Company”) based on its beneficial ownership interest on a fully converted basis of 11.7% of the Company’s outstanding shares, today announced that it has filed a lawsuit against the Company and Chairman, President and Chief Executive Officer Reece A. Kurtenbach in the United States District Court for the District of South Dakota.The suit is in response to Daktronics’ rece
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