Hoffend & Sons, based in Victor, NY, has filed suit against Brookings, SD-based Daktronics, seeking damages for shareholders for at least $12 million. Hoffend claims Daktronics has breached a 2006 contract to acquire Hoffend & Sons Inc. by failing to comply with the terms of the acquisition. Daktronics Inc. purchased the operating assets of Hoffend & Sons in October 2006. Under the terms of the purchase agreement, Daktronics was to provide payments to Hoffend shareholders ...
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