SMCI Investors Have Opportunity to Lead Super Micro Computer, Inc. Securities Fraud Lawsuit

PRNewswire 16-Sep-2024 5:45 PM

Shareholders with losses of $100,000 or more are encouraged to contact the firm. 

LOS ANGELES, Sept. 16, 2024 /PRNewswire/ -- The Law Offices of Frank R. Cruz announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against Super Micro Computer, Inc. ("Super Micro" or the "Company") (NASDAQ:SMCI).

Class Period: February 2, 2021 – August 28, 2024
Lead Plaintiff Deadline: October 29, 2024

If you are a shareholder who suffered a loss, click here to participate.

The complaint filed alleges that, throughout the Class Period, Defendants failed to disclose to investors that: (1) the Company was subject to consistent overreporting of sales and underreporting of expenses; (2) it had re-hired multiple executives who departed in the wake of the Company's prior accounting scandal; (3) the Company has a closer relationship to its related parties than disclosed; (4) the Company had more related parties than it had disclosed; (5) the Company had not ceased exporting products to areas restricted by the United States government as a result of the Russia-Ukraine war, risking government sanction; and (6) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

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To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action.  If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com.  If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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SOURCE The Law Offices of Frank R. Cruz, Los Angeles