|02-13-2018 04:37 PM CET - Business, Economy, Finances, Banking & Insurance||
Lawsuit for Investors in shares of Super Micro Computer, Inc. (NASDAQ:SMCI)filed
Press release from: Shareholders Foundation
The Shareholders Foundation announces that an investor, who purchased shares of Super Micro Computer, Inc. (NASDAQ:SMCI), filed a lawsuit over alleged Securities Laws violations by Super Micro Computer, Inc..
Investors who purchased shares of Super Micro Computer, Inc. (NASDAQ:SMCI) should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The plaintiff claims that between January 27, 2017, and January 30, 2018, the , defendants made false and/or misleading statements and/or failed to disclose that Super Micro’s financial statements contained accounting errors, including errors with respect to one of the Company’s sales transactions, that as such, the Company’s internal controls were not effective, that Super Micro lacked the capability to timely review and assess the impact of the foregoing issues, and that as a result, Super Micro’s public statements were materially false and misleading at all relevant times.
On August 29, 2017, Super Micro Computer, Inc. disclosed it required additional time to file its 2017 10-K.
On September 14, 2017, Super Micro Computer, Inc. disclosed it had received a Non-Compliance letter from Nasdaq.
On October 26, 2017, Super Micro Computer, Inc. reaffirmed its delay in filing the 10-K, stating that "In connection with the in-process audit of the Company's financial results for the year ended June 30, 2017, a sales transaction was subject to additional inquiry and review".
Then on January 30, 2018, Super Micro Computer, Inc. stated that "the Audit Committee has completed the previously disclosed investigation. Additional 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 (the "Form 10-K")".
Shares of Super Micro Computer, Inc. (NASDAQ:SMCI) declined to as low as $19.30 per share on February 5, 2018.
Those who purchased shares of Super Micro Computer, Inc. (NASDAQ:SMCI) have certain options and should contact the Shareholders Foundation.
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 class actions, 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. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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This release was published on openPR.
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