Super Micro Computer (SMCI) Faces Multiple Class Action Lawsuits Over Alleged Accounting Manipulation

SUPER MICRO COMPUTER SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: KAHN SWICK & FOTI, LLC REMINDS INVESTORS WITH LOSSES IN EXCESS OF $100,000 of Lead Plaintiff Deadline in Class Action Lawsuits Against Super Micro Computer, Inc. - SMCI - Super Micro Computer (NASDAQ:SMCI)

NEW ORLEANS, Sept. 17, 2024 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until October 29, 2024 to file lead plaintiff applications in securities class action lawsuits against Super Micro Computer, Inc. ("SMCI" or the "Company") SMCI, if they purchased the Company's securities between February 2, 2021 and August 28, 2024, inclusive (the "Class Period"). These actions are pending in the United States District Court for the Northern District of California. What You May Do If you purchased securities of SMCI and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit http://ksfcounsel.com/cases/nasdaqgs-smci/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by October 29, 2024. About the Lawsuits SMCI and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws. On August 27, 2024, Hindenburg Research released a report entitled "Super Micro: Fresh Evidence of Accounting Manipulation, Sibling Self-Dealing and Sanctions Evasion at this AI High Flyer" that detailed its "3-month investigation" which uncovered "glaring accounting red flags, evidence of undisclosed related party transactions, sanctions and expert control failures, and customer issues," and that the Company continued to engage in channel-stuffing despite being charged by the SEC for doing so. On this news, the price of SMCI's shares fell from a closing price of $562.51 per share on August 26, 2024 to $443.49 per share on August 28, 2024. The first-filed case is Averza v. Super Micro Computer, Inc., 24-cv-06147. Two subsequent cases were filed, Menditto v. Super Micro Computer, Inc., 24-cv-06149 and Spatz v. Super Micro Computer, Inc., 24-cv-06193. About Kahn Swick & Foti, LLC KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. KSF serves a variety of clients - including public institutional investors, hedge funds, money managers and retail investors - in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana and New Jersey. To learn more about KSF, you may visit www.ksfcounsel.com. Kahn Swick & Foti, LLC Lewis Kahn, Managing Partner [email protected] 1-877-515-1850 1100 Poydras St., Suite 960 New Orleans, LA 70163 Market News and Data brought to you by Benzinga APIs

INVESTOR REMINDER: Berger Montague Notifies Super Micro Computer (NASDAQ: SMCI) Investors of a Class Action Lawsuit and Deadline - Super Micro Computer (NASDAQ:SMCI)

PHILADELPHIA, Sept. 16, 2024 (GLOBE NEWSWIRE) -- Securities fraud lawsuits have been filed against Super Micro Computer, Inc. ("Super Micro" or the "Company") SMCI. The lawsuits have been filed on behalf of purchasers of Super Micro securities between February 2, 2021 and August 28, 2024, inclusive (the "Class Period"). CLICK HERE TO LEARN MORE ABOUT THIS LAWSUIT. Investors who purchased or acquired Super Micro securities during the Class Period may, no later than October 29, 2024, seek to be appointed as a lead plaintiff representative of the class. Super Micro, headquartered in San Jose, CA, is a server and storage solutions manufacturer that sells its hardware to technology companies for use as servers for websites, data storage, and artificial intelligence applications. According to the complaint, throughout the Class Period, Super Micro and senior executives reported strong demand, surging revenue growth, and increased product shipments. The Company also represented that it adhered to U.S. and other applicable trade control regulations, including the fact that it had made no sales in the Russian Federation during 2023 and 2024, and no sales to the Russian Federal Security Service ("FSB"). For additional information or to learn how to participate in this litigation, please contact Berger Montague: Andrew Abramowitz at [email protected] or (215) 875-3015, or Peter Hamner at [email protected] or (215) 875-3048, or CLICK HERE. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the Court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member. Berger Montague, with offices in Philadelphia, Minneapolis, Delaware, Washington, D.C., San Diego, San Francisco and Chicago, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States. Andrew Abramowitz, Senior Counsel Berger Montague (215) 875-3015 [email protected] Peter Hamner Berger Montague PC (215) 875-3048 [email protected] Market News and Data brought to you by Benzinga APIs

SMCI Class Action Alert - Shareholder Rights Law Firm Robbins LLP Reminds Stockholders of the Lead Plaintiff Deadline in the Super Micro Computer, Inc. Class Action Lawsuit - Super Micro Computer (NASDAQ:SMCI)

SAN DIEGO, Sept. 16, 2024 (GLOBE NEWSWIRE) -- Robbins LLP reminds investors that a shareholder filed a class action on behalf of all persons and entities that purchased or otherwise acquired Super Mirco Computer, Inc. SMCI securities between August 10, 2021 and August 26, 2024. SMCI 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. For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003. The Allegations: Robbins LLP is Investigating Allegations that Super Micro Computer, Inc. (SMCI) Misled Investors Regarding its Business Prospects According to the complaint, during the class period, defendants failed to disclose to investors 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. Plaintiff alleges that on August 27, 2024, Hindenburg Research unveiled a research report concerning SMCI. The research 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." On this news, the price of SMCI's common stock declined dramatically from a closing market price of $562.51 per share on August 26, 2024, to $443.49 per share on August 28, 2024, a decline of approximately 21.16% in the span of two days. What Now: You may be eligible to participate in the class action against Super Micro Computer, Inc. Shareholders who want to serve as lead plaintiff for the class must submit their application to the court by October 29, 2024. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here. All representation is on a contingency fee basis. Shareholders pay no fees or expenses. About Robbins LLP: Some law firms issuing releases about this matter do not actually litigate securities class actions; Robbins LLP does. A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. Since our inception, we have obtained over $1 billion for shareholders. To be notified if a class action against Super Micro Computer, Inc. settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today. Attorney Advertising. Past results do not guarantee a similar outcome. Aaron Dumas, Jr. Robbins LLP 5060 Shoreham Pl., Ste. 300 San Diego, CA 92122 [email protected] (800) 350-6003 www.robbinsllp.com https://www.facebook.com/RobbinsLLP/ https://www.linkedin.com/company/robbins-llp/ A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/064da69f-14d7-4762-b28b-de29a7b2debb Market News and Data brought to you by Benzinga APIs

Super Micro Computer (SMCI) Faces Securities Class Actions Over Accounting Manipulation Accusations - Hagens Berman - Super Micro Computer (NASDAQ:SMCI)

SAN FRANCISCO, Sept. 16, 2024 (GLOBE NEWSWIRE) -- Hagens Berman urges Super Micro Computer, Inc. SMCI investors who suffered substantial losses to submit your losses now. 1st Class Period: Aug. 10, 2021 - Aug. 26, 2024 2nd Class Period: Aug. 31, 2023 - Aug. 28, 2024 3rd Class Period: Feb. 2, 2021 - Aug. 26, 2024 Lead Plaintiff Deadline for All Class Actions: Oct. 29, 2024 Visit: www.hbsslaw.com/investor-fraud/smci Contact the Firm Now: [email protected] 844-916-0895 Super Micro Computer, Inc. (SMCI) Securities Class Actions: Shares of Super Micro took a significant hit on September 4, 2024, following a downgrade from Barclays and renewed concerns about the company's internal controls and corporate governance. Barclays expressed concerns about "room for improvement" in these areas, contributing to a 36% drop in the firm's price target for SMCI. Just days earlier, Forbes reported that AI had flagged financial reporting risks at Super Micro in 2022, which were allegedly allowed to go unaddressed. Hudson Labs, a firm specializing in financial disclosure analysis, identified "related party risk" as a significant red flag, suggesting the potential for round-tripping -- a technique used to artificially inflate sales. These revelations have reignited investor concerns about Super Micro, which is already facing three separate class action lawsuits alleging false and misleading statements. The lawsuits, which echo claims made by activist short seller Hindenburg raised in an August 27 report, allege that the company overstated sales, understated expenses, rehired executives involved in previous accounting scandals, had undisclosed ties to related parties, and continued to export products to restricted regions. Following the release of Hindenburg Research's damning report on August 27th, Super Micro announced a delay in its Form 10-K filing, citing the need for additional time to assess its internal controls. Super Micro shares are currently trading down 30% since Hindenburg accused the company of "accounting manipulation." Prominent shareholder rights firm Hagens Berman is now investigating the matter. "We are looking into whether Super Micro may have concealed material weaknesses in its internal controls over financial reporting," said Reed Kathrein, the Hagens Berman partner leading the investigation. If you invested in Super Micro Computer and have substantial losses, or have knowledge that may assist the firm's investigation, submit your losses now " If you'd like more information and answers to frequently asked questions about the Super Micro Computer case and our investigation, read more " Whistleblowers: Persons with non-public information regarding Super Micro Computer should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new 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, call Reed Kathrein at 844-916-0895 or email [email protected]. About Hagens Berman Hagens Berman is a global plaintiffs' rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman's team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw. Reed Kathrein, 844-916-0895 Market News and Data brought to you by Benzinga APIs