SAN FRANCISCO, Oct. 01, 2024 (GLOBE NEWSWIRE) -- Troubled server maker Super Micro Computer’s shares are set to begin trading at a lower price on October 1 following a 10-for-1 stock split.
The stock split, a common corporate action designed to make shares more affordable, comes after a tumultuous month in which the company grapples with allegations of accounting irregularities and potential wrongdoing. The U.S. Attorney’s Office in San Francisco has reportedly contacted individuals with potential knowledge of these matters, sparked by a critical report by short-seller Hindenburg Research.
Hagens Berman urges Super Micro Computer, Inc. (NASDAQ: 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
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844-916-0895
Super Micro Computer, Inc. (SMCI) Securities Class Actions:
The allegations have sent Super Micro's shares plummeting, and the company is now facing three separate class-action lawsuits that echo the claims made by Hindenburg. The lawsuits also accuse Super Micro of rehiring executives involved in past accounting scandals and continuing to export products to restricted regions.
Following the release of Hindenburg's report, Super Micro announced a delay in its annual report on Form 10-K filing, citing the need for additional time to assess its internal controls. To date, the company has still not filed its 10-K.
Since the allegations surfaced, the company has lost billions of dollars in market capitalization.
Prominent shareholder rights firm Hagens Berman is now investigating the matter. “The allegations of accounting irregularities and potential wrongdoing are extremely serious, and we are committed to getting to the bottom of this matter,” said Reed Kathrein, the firm's 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.
Contact:
Reed Kathrein, 844-916-0895
