NEW YORK, Aug. 28, 2024 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces an investigation into Super Micro Computer, Inc. (NASDAQ: SMCI) for potential violations of the federal securities laws.
If you invested in Super Micro Computer, you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases-investigations/super-micro-computer-inc.
Why Did Super Micro Computer’s Stock Drop?
Super Micro Computer is one of the largest providers of high-performance and high-efficiency servers.
On August 27, 2024, Hindenburg Research, a well-known short seller, published a report concerning Super Micro Computer that “found glaring accounting red flags, evidence of undisclosed related party transactions, sanctions and export control failures, and customer issues.”
The next day, on August 28, 2024, Super Micro Computer announced that it needed to delay the filing of its Annual Report for the fiscal year ended June 30, 2024 to assess the effectiveness of its internal controls over financial reporting.
The news of the delayed Annual Report caused the price of Super Micro Computer stock to decline about 23%, from $547.64 per share at market close on August 27, 2024, to $420.72 per share during morning trading on August 28, 2024.
Click here for more information: https://www.bfalaw.com/cases-investigations/super-micro-computer-inc.
What Can You Do?
If you invested in Super Micro Computer, Inc. you may have legal options and are encouraged to submit your information to the firm. All representation is on a contingency fee basis, there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses.
Submit your information by visiting:
https://www.bfalaw.com/cases-investigations/super-micro-computer-inc
Or contact:
Ross Shikowitz
ross@bfalaw.com
212-789-3619
Why Bleichmar Fonti & Auld LLP?
Bleichmar Fonti & Auld LLP is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It was named among the Top 5 plaintiff law firms by ISS SCAS in 2023 and its attorneys have been named Titans of the Plaintiffs’ Bar by Law360 and SuperLawyers by Thompson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.’s Board of Directors (pending court approval), as well as $420 million from Teva Pharmaceutical Ind. Ltd.
For more information about BFA and its attorneys, please visit https://www.bfalaw.com.
https://www.bfalaw.com/cases-investigations/super-micro-computer-inc
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