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

PRNewswire 19-Sep-2024 3:30 PM

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

LOS ANGELES, Sept. 19, 2024 /PRNewswire/ -- Glancy Prongay & Murray LLP ("GPM") 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 wish to serve as lead plaintiff of the Super Micro lawsuit, you can submit your contact information at www.glancylaw.com/cases/Super-Micro-Computer-Inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn more about your rights.

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.

Follow us for updates on LinkedIn, Twitter, or Facebook.

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 Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.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.

Contacts
Glancy Prongay & Murray LLP, Los Angeles
Charles Linehan, 310-201-9150 or 888-773-9224
shareholders@glancylaw.com
www.glancylaw.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/smci-investors-have-opportunity-to-lead-super-micro-computer-inc-securities-fraud-lawsuit-302253495.html

SOURCE Glancy Prongay & Murray LLP