Activist shareholder sues Daktronics over Delaware move

Alta Fox contends reincorporation plan meant to escape South Dakota law

An ongoing feud between Brookings-based Daktronics and its largest shareholder has spilled into federal court and the Securities and Exchange Commission, which regulates publicly traded companies.

Alta Fox Capital Management filed a lawsuit to block Daktronics from changing its corporate jurisdiction from South Dakota to Delaware. The company announced last month that it was reincorporating in Delaware, but that the action would not affect its business operations in South Dakota.

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