ONGOING INVESTIGATION ALERT: The Schall Law Firm Announces it is Investigating Claims Against Super Micro Computer, Inc.
Accesswire 15-Feb-2018 1:45 PM
LOS ANGELES, CA / ACCESSWIRE / February 15, 2018 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Super Micro Computer, Inc. ("Super Micro" or the "Company") (NASDAQ: SMCI) for violations of 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. On January 30, 2018, during aftermarket hours, Super Micro announced that "[t]he Audit Committee has completed the previously disclosed investigation," and "[a]dditional time is required to analyze the impact, if any, of the results of the investigation on the Company's historical financial statements, as well as to conduct additional reviews before the Company will be able to finalize its Annual Report on Form 10-K for the fiscal year ended June 30, 2017." Super Micro "also announced that Wally Liaw, Sr. Vice President of International Sales, Phidias Chou, Sr. Vice President, Worldwide Sales and Howard Hideshima, Senior Vice President, Chief Financial Officer, have resigned." On this news, shares of Super Micro fell $1.82 per share or over 7% from its previous closing price to close at $22.83 per share on January 31, 2018. When the truth was revealed to the investing public, shares dropped causing shareholders harm.
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The Schall Law Firm Brian Schall, Esq.Sherin Mahdavian, Esq.www.schallfirm.com
SOURCE: The Schall Law Firm