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On September 10, 2024
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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. 10, 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 (lewis.kahn@ksfcounsel.com), 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 lewis.kahn@ksfcounsel.com 1-877-515-1850 1100 Poydras St., Suite 960 New Orleans, LA 70163 Market News and Data brought to you by Benzinga APIs
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ATTENTION NASDAQ: SMCI INVESTORS: Contact Berger Montague About a Super Micro Computer Class Action Lawsuit - Super Micro Computer (NASDAQ:SMCI)
PHILADELPHIA, Sept. 09, 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 aabramowitz@bm.net or (215) 875-3015, or Peter Hamner at phamner@bm.net 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 aabramowitz@bm.net Peter Hamner Berger Montague PC (215) 875-3048 phamner@bm.net Market News and Data brought to you by Benzinga APIs
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ATTENTION NASDAQ: SMCI INVESTORS: Contact Berger Montague About a Super Micro Computer Class Action Lawsuit By Investing.com
PHILADELPHIA, Sept. 09, 2024 (GLOBE NEWSWIRE) -- Securities fraud lawsuits have been filed against Super Micro Computer (NASDAQ:SMCI), Inc. (Super Micro or the Company) (NASDAQ: 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 aabramowitz@bm.net or (215) 875-3015, or Peter Hamner at phamner@bm.net 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.
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Super Micro Computer (SMCI) Faces Renewed Scrutiny Amid Investor Suits - Hagens Berman - Super Micro Computer (NASDAQ:SMCI)
SAN FRANCISCO, Sept. 09, 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: SMCI@hbsslaw.com 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 SMCI@hbsslaw.com. 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
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Super Micro Computer, Inc. (NASDAQ: SMCI) is under scrutiny as multiple law firms announce investigations and potential class action lawsuits on behalf of shareholders. The allegations center around possible violations of federal securities laws.
Super Micro Computer, Inc. (NASDAQ: SMCI), a global leader in high-performance server technology, finds itself embroiled in a series of legal challenges as multiple law firms announce investigations and potential class action lawsuits on behalf of shareholders. The company, which has been a darling of the tech industry due to its involvement in artificial intelligence and cloud computing infrastructure, is now facing allegations of potential violations of federal securities laws 1.
The core of the allegations revolves around Super Micro Computer's financial reporting practices. Specifically, the company is accused of overstating its revenue and earnings per share for multiple quarters, raising concerns about the accuracy and reliability of its financial statements 2.
Several prominent law firms have announced their involvement in these cases:
The legal actions stem from a significant drop in Super Micro Computer's stock price following reports of potential accounting irregularities. Investors who purchased SMCI securities during the specified period may have suffered substantial losses and are being encouraged to seek legal counsel 2.
The class action lawsuit, if certified, would represent a collective legal action on behalf of affected shareholders. This approach allows investors to pool their resources and potentially recover losses resulting from alleged corporate misconduct 3.
As of now, Super Micro Computer has not issued a public statement regarding these allegations and investigations. The outcome of these legal challenges could have significant implications for the company's reputation, financial stability, and future operations in the competitive tech hardware market 4.
Investors and industry observers will be closely monitoring the developments of these cases, as they may provide insights into the company's financial practices and corporate governance. The resolution of these legal matters could potentially lead to changes in Super Micro Computer's management, financial reporting procedures, and overall business strategy.
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Super Micro Computer, Inc. (NASDAQ: SMCI) is facing a series of class action lawsuits from shareholders and law firms over accusations of accounting manipulation. The company's stock has seen significant volatility as a result of these allegations.
4 Sources
Super Micro Computer, Inc. (SMCI) is facing multiple securities class action lawsuits following accusations of accounting manipulation. Shareholders with significant losses are encouraged to seek lead plaintiff status before the October 13, 2023 deadline.
2 Sources
Super Micro Computer, Inc. (SMCI) is facing multiple class action lawsuits and increased scrutiny from investors. The lawsuits allege violations of securities laws and misleading statements about the company's financial health.
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Investors in Super Micro Computer, Inc. are urged to act before the October 29, 2024 deadline for a securities class action lawsuit. The case alleges violations of federal securities laws, with potential significant financial implications.
3 Sources
Super Micro Computer Inc. (SMCI) is facing multiple class action lawsuits and investigations over alleged securities violations. Law firms are seeking lead plaintiffs for cases claiming the company made false and misleading statements about its financial condition.
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