If you invested in Super Micro Computer and have substantial losses, or have knowledge that may assist the firm’s investigation, submit your losses »

CLASS PERIOD
02/02/2021 - 08/28/2024

LEAD PLAINTIFF DEADLINE
10/29/2024

RELATED DOCUMENTS
Averza Complaint 08/30/24

Menditto Complaint 08/30/24

Spatz Complaint 08/30/24

STOCK SYMBOL
NASDAQ: SMCI

CONTACT
844-916-0895
[email protected]

The investigation focuses on the propriety of Super Micro Computer’s financial reporting and whether its financial statements were prepared in accordance with applicable accounting rules.

The price of Super Micro Computer shares fell during intraday trading on August 27, 2024 after activist short seller Hindenburg Research published “Super Micro: Fresh Evidence Of Accounting Manipulation, Sibling Self-Dealing And Sanctions Evasion At This AI High Flyer.”

After interviewing former senior employees, industry experts, and a whistleblower lawsuit brought by Super Micro’s former head of Global Services, Hindenburg concluded “[a]ll told, we believe Super Micro is a serial recidivist[]” and it “faces significant accounting, governance and compliance issues and offers an inferior product and service now being eroded away by more credible competition.”

Citing the whistleblower lawsuit, Hindenburg noted allegations against Super Micro of improper revenue recognition, recognizing incomplete sales, and circumvention of internal accounting controls. Hindenburg also wrote “pressure to meet quotas pushed salespeople to stuff the channel with distributors using ‘partial shipments’ or by shipping defective products around quarter-end, per our interviews with former employees and customers.”

FREQUENTLY ASKED QUESTIONS ABOUT THE CASE

What is the SMCI securities class action about?

We are looking into whether Super Micro may have misled investors about its revenue recognition practices.

WHAT SHOULD I DO?

I worked at SMCI. What should I do?

If you were an employee of SMCI, you may have valuable information that could be relevant to the investigation. Hagens Berman is one of the nation’s top whistleblower law firms, and has successfully represented many individuals who come forward with information regarding corporate malfeasance. Under the new SEC Whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, contact Reed Kathrein at 844-916-0895 or [email protected].

There are multiple law firms participating, do I need to contact all of them?

No, you do not need to contact all participating law firms. Generally, class-action investigations and lawsuits are consolidated into a single case to streamline the legal process, and attorneys from only a few law firms are selected to serve in a leadership role on the consolidated case. Hagens Berman has a proven track record of being appointed to leadership roles in complex, multidistrict litigation regarding investor fraud and other consumer rights issues, and your claim will be handled by attorneys who have helped secure approximately $325 billion in class-action settlements on behalf of individuals who have suffered due to corporate malfeasance and the wrongdoing of other powerful institutions.

AM I ELIGIBLE?

What is the threshold amount to be eligible? What are “substantial” losses?

The threshold amount and the definition of "substantial" losses may vary depending on a number of factors specific to the case, including the size of the company, market cap, shares outstanding and who holds them and the damages alleged by the fraud. In general, to be eligible to participate in a class-action lawsuit, you must be able to demonstrate that you suffered financial losses as a result of the alleged wrongdoing and that your losses meet the criteria set by the court or law firm. Fill out the form and submit your losses.

CAN I PARTICIPATE?

Am I affected? What do I need to do to participate?

If you were an investor in SMCI, you may be affected and eligible to participate in the case. To determine your eligibility and potential involvement, fill out the form and submit your losses.

Can any SMCI investor participate?

In most class-action investigations and cases, any investor who meets the eligibility criteria, including purchasing the shares during the relevant period, can participate, regardless of the size of their investment. Fill out the form to find out your rights.

I bought on a non-U.S. Exchange. Can I participate?

No. This investigation only covers shares bought on a U.S. exchange, i.e. NASDAQ or NYSE. Fill out the form to find out your rights.

Am I included if I still hold my shares, or do I need to sell to participate?

Participation is based on purchasing shares during the relevant period, rather than your current holdings. Accordingly, you do not need to sell to participate. Fill out the form to find out your rights.

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