NEW ORLEANS, March 23, 2018 (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 April 9, 2018 to file lead plaintiff applications in a securities class action lawsuit against Super Micro Computer, Inc. (NasdaqGS:SMCI), if they purchased the Company’s securities between the expanded period of August 5, 2016 and January 30, 2018, inclusive (the “Class Period”). This action is pending in the United States District Court for the Northern District of California.
What You May Do
If you purchased securities of Super Micro 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 April 9, 2018.
About the Lawsuit
Super Micro and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On October 26, 2017, the Company disclosed an investigation into revenue originally recorded in Q2 ended December 31, 2016, that “the recognition of revenue was reversed and…subsequently recognized in [Q3] ended March 31, 2017,” extending a prior delay of its 10-K. Then, on January 30, 2018, the Company revealed another delay of the 10-K citing further analysis needed of the revenue matter and potential ramifications on its financial statements.
On this news, the price of Super Micro’s shares plummeted.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
206 Covington St.
Madisonville, LA 70447