Fri, 27 Jan 2023

NEW YORK, NY / ACCESSWIRE / January 24, 2023 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court. Further details about the cases can be found at the links provided. There is no cost or obligation to you.

IREN Shareholders Click Here: https://www.zlk.com/pslra-1/iris-energy-class-action-submission-form?prid=35911&wire=1
DAKT Shareholders Click Here: https://www.zlk.com/pslra-1/daktronics-class-action-submission-form?prid=35911&wire=1
FATE Shareholders Click Here: https://www.zlk.com/pslra-1/fate-therapeutics-class-action-submission-form?prid=35911&wire=1

* ADDITIONAL INFORMATION BELOW *

Levi & Korsinsky, LLP, Tuesday, January 24, 2023, Press release picture

Iris Energy Limited (NASDAQ:IREN)

This lawsuit is on behalf of a class consisting of all persons and entities other than defendants that purchased or otherwise acquired: (a) Iris ordinary shares pursuant and/or traceable to the documents issued in connection with the Company's initial public offering conducted on or about November 17, 2021; and/or (b) Iris securities between November 17, 2021 and November 1, 2022, both dates inclusive.
Lead Plaintiff Deadline: February 13, 2023
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/iris-energy-class-action-submission-form?prid=35911&wire=1

According to the filed complaint, (i) certain of Iris's Bitcoin miners, owned through its wholly-owned special purpose vehicles, were unlikely to produce sufficient cash flow to service their respective debt financing obligations; (ii) accordingly, Iris's use of equipment financing agreements to procure Bitcoin miners was not as sustainable as defendants had represented; (iii) the foregoing was likely to have a material negative impact on the Company's business, operations, and financial condition; and (iv) as a result, documents issues in connection with the Company's initial public offering and defendants' public statements throughout the class period were materially false and/or misleading and failed to state information required to be stated therein.

Daktronics, Inc. (NASDAQ:DAKT)

DAKT Lawsuit on behalf of: investors who purchased March 10, 2022 - December 6, 2022
Lead Plaintiff Deadline: February 21, 2023
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/daktronics-class-action-submission-form?prid=35911&wire=1

According to the filed complaint, during the class period, Daktronics, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) the Company was experiencing challenges that increased costs, including supply chain disruptions, that impacted Daktronics' ability to fund inventory levels and operations; (2) as a result, it was probable that some portion of the Company's deferred tax assets would not be realized; (3) as a result, Daktronics was reasonably likely to record a material valuation allowance to its deferred tax assets; (4) there were material weaknesses in the Company's internal controls over financial reporting related to income taxes; (5) the foregoing presented liquidity concerns and there was substantial doubt as to the Company's ability to continue as a going concern; and (6) as a result of the foregoing, defendant's positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Fate Therapeutics, Inc. (NASDAQ:FATE)

FATE Lawsuit on behalf of: investors who purchased April 2, 2020 - January 5, 2023
Lead Plaintiff Deadline: March 22, 2023
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/fate-therapeutics-class-action-submission-form?prid=35911&wire=1

According to the filed complaint, during the class period, Fate Therapeutics, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) the global collaboration and option agreement for cell-based cancer immunotherapies that the Company entered into with Janssen Biotech, Inc. (the 'Janssen Collaboration Agreement') was less sustainable than Fate had represented to investors; (ii) accordingly, certain the clinical programs, milestone payments, and royalty payments associated with the Janssen Collaboration Agreement could not be relied upon as future revenue sources; (iii) as a result, Fate had overstated the impact of the Janssen Collaboration Agreement's on Fate's long-term clinical and commercial profitability; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.

You have until the lead plaintiff deadlines to request that the court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Levi & Korsinsky is a nationally recognized firm with offices in New York, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Eduard Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com

SOURCE: Levi & Korsinsky, LLP



View source version on accesswire.com:
https://www.accesswire.com/736641/CLASS-ACTION-UPDATE-for-IREN-DAKT-and-FATE-Levi-Korsinsky-LLP-Reminds-Investors-of-Class-Actions-on-Behalf-of-Shareholders

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