Investors who lost money with shares of Super Micro Computer, Inc. (NASDAQ: SMCI) should contact the Shareholders Foundation in connection with Lawsuit

An investor, who purchased shares of Super Micro Computer, Inc. (NASDAQ: SMCI), filed a lawsuit over alleged violations of Federal Securities Laws by Super Micro Computer, Inc. in connection with certain allegedly false and misleading statements.

Investors who purchased shares of Super Micro Computer, Inc. (NASDAQ: SMCI) have certain options and for certain investors are short and strict deadlines running. Deadline: October 29, 2024. NASDAQ: SMCI investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On August 27, 2024, Hindenburg Research issued a report regarding Super Micro Computer, Inc, highlighting a number of concerns regarding the company's accounting practices and corporate governance. Allegations include improper revenue recognition and the rehiring of executives previously involved in accounting scandals.
According to the short seller report, "Less than three months after settling with the SEC for $17.5 million, Super Micro began rehiring top executives who were directly implicated in the accounting scandal, based on litigation records and interviews with former employees." Hindenburg Research also highlighted issues related to Super Micro's dealings with related parties. The report states that Super Micro's CEO, Charles Liang, has brothers who control suppliers Ablecom and Compuware, which have received $983 million over three years. These relationships, described as circular, involve transactions that are not fully disclosed and pose risks to revenue recognition and reported margins, according to Hindenburg.
Super Micro's integrity was further questioned regarding its transactions with sanctioned countries. Despite a guilty plea for exporting banned components to Iran in 2006 and assurances of compliance with U.S. export bans to Russia following the Ukraine invasion, the report suggests that exports to Russia have increased, potentially violating sanctions.

Shares of Super Micro Computer, Inc. (NASDAQ: SMCI) declined from $1229 per share on March 8, 2024, to $395.18 per share on August 28, 2024.

The plaintiff claims that between February 2, 2021, and August 26, 2024, the defendants made false and/or misleading statements and/or failed to disclose, among other things, that defendants recognized revenue prematurely and failed to implement adequate internal financial controls, that defendants failed to disclose the existence of multiple related party transactions, and that as a result, defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Those who purchased shares of Super Micro Computer, Inc. (NASDAQ: SMCI) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.