Super Micro Computer Long-Term Shareholder Announcement: Johnson Fistel Encourages Investors to Reach Out For More Information About Continuing Investigation

/EIN News/ -- SAN DIEGO, April 01, 2025 (GLOBE NEWSWIRE) -- Johnson Fistel, PLLP is investigating potential claims on behalf of Super Micro Computer, Inc. (NASDAQ: SMCI) against certain of its officers and directors to hold them responsible for damages they allegedly caused the company to suffer.

If you have continuously owned Super Micro Computer shares since before August 10, 2021, you have certain legal rights as a shareholder. If you want to learn more, please read below or submit your information at: https://www.johnsonfistel.com/investigations/super-micro-computer-inc-nasdaq-smci

Previously, a class action lawsuit was filed against Super Micro Computer seeking damages, but only for those who acquired stock between August 10, 2021, and August 26, 2024 (the “Class Period”). If you purchased shares before the Class Period, you will not be able to participate in any recovery obtained in the class action, but you may be able to participate in a separate action seeking to hold the officers and directors who engaged in the alleged wrongdoing responsible for any damage to the company.

According to the Complaint, Super Micro Computer, Inc. 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. This lawsuit was filed against Super Micro and two of its Officers.

During the Class Period, Defendants provided investors with material information concerning SMCI’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 was in compliance with United States export restrictions. The Complaint alleges that Defendants 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 SMCI’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 SMCI had more related parties than it had disclosed, and that the Company had not ceased exporting products to areas restricted by the United States government as a result of the Russia-Ukraine war, risking government sanction.

On August 27, 2024, Hindenburg Research unveiled a short report on SMCI. The short report detailed several allegations against the Company, including that Hindenburg “found glaring accounting red flags, evidence of undisclosed related party transactions, sanctions and control failures, and customer issues.” The Complaint alleges that investors and analysts reacted immediately to these revelations leading to a dramatic decline in the price of the Company's common stock.

If you would like to know more about your rights as a shareholder or how you can participate in holding the officers and directors responsible for the damage that they allegedly caused the company to suffer, please contact Johnson Fistel at (619) 814-4471.

About Johnson Fistel, PLLP | Top Law Firm, Securities Fraud, Investors Rights:
Johnson Fistel, PLLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia, and Colorado. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. We also extend our services to foreign investors who have purchased on US exchanges. Stay updated with news on stock drops and learn how Johnson Fistel, PLLP can help you recover your losses. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com.

Achievements: In 2024, Johnson Fistel was honored to be ranked in the Top 10 Plaintiff Law Firms by the ISS Securities Class Action Services. This recognition underscores our effectiveness in advocating for investors, having recovered approximately $90,725,000 for aggrieved clients in cases where we served as lead or co-lead counsel. This notable accomplishment marks the eighth occasion our firm has been recognized as a top plaintiffs’ securities law firm in the United States, as determined by the total dollar value of final recoveries.

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Contact:
Johnson Fistel, PLLP
501 W. Broadway, Suite 800, San Diego, CA 92101
James Baker, Investor Relations or Frank J. Johnson, Esq., (619) 814-4471
jimb@johnsonfistel.com or fjohnson@johnsonfistel.com