Overview

A class action lawsuit has been filed against Super Micro Computer, Inc. (“Super Micro” or the “Company”) (NASDAQ: SMCI) and certain of the Company’s former and current senior executive officers alleging violations of the federal securities laws.  The Super Micro class action lawsuit is brought on behalf of all persons and entities who purchased or otherwise acquired Super Micro securities during the period between February 2, 2021, and August 28, 2024.  This class definition has been updated to reflect the expanded class period set forth in the follow-on cases Menditto v. Super Micro Computer, Inc., et al. and Spatz v. Super Micro Computer, Inc., et al.  The original class definition for the lead case was: All purchasers of Super Micro Computer, Inc. securities during the period between August 10, 2021, and August 26, 2024.  Investors have until October 29, 2024, to seek appointment as lead plaintiff of the Super Micro class action lawsuit.

Super Micro is an international company that develops, manufactures, and provides server and storage systems for various markets, including data centers, cloud computing, AI, 5G, and edge computing.  The Company further offers server sub-systems and accessories including complete servers, storage systems, modular blade servers, blades, workstations, full rack scale solutions, networking devices, and sub-systems, as well as management and security software.

The Super Micro class action lawsuit alleges that Defendants provided investors with material information concerning Super Micro’s financial results for the fiscal years 2021 through 2024.  Defendants’ statements included, among other things, reports of continued significant growth with increasing financial success year after year, a healthy relationship with its related parties, and that the Company was in compliance with U.S. export restrictions.  Defendants also provided these overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning the true state of Super Micro’s accounting; notably, that it was subject to consistent overreporting of sales and underreporting of expenses, that it had re-hired multiple executives who departed in the wake of the Company’s prior accounting scandal, that the Company has a closer relationship to its related parties than disclosed, that Super Micro had more related parties than it had disclosed, and that the Company had not ceased exporting products to areas restricted by the U.S. government as a result of the Russia-Ukraine war, risking government sanction.

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If you purchased or otherwise acquired Super Micro securities during the period between February 2, 2021, and August 28, 2024, both dates inclusive, and you wish to serve as lead plaintiff in this lawsuit, we encourage you to submit your information to DiCello Levitt LLP via the form on this page. 

You can also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or at investors@dicellolevitt.com. 

The deadline to apply to the Court to serve as a lead plaintiff in the Super Micro class action lawsuit is October 29, 2024.