NEW YORK, Sept. 27, 2024 (GLOBE NEWSWIRE) -- Lowey Dannenberg P.C., a preeminent law firm in obtaining redress for consumers and investors, announces the filing of a class action lawsuit against Super Micro Computer, Inc. (“Super Micro” or the “Company”) (NASDAQ: SMCI) for violations of the federal securities laws on behalf of investors who purchased or acquired Super Micro common stock between August 10, 2021 to August 26, 2024, inclusive (the “Class Period”).
On August 30, 2024, a complaint was filed against the Company and certain of its officers, alleging that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Super Micro was subject to consistent overreporting of sales and underreporting of expenses; (ii) Super Micro had re-hired multiple executives who departed in the wake of Super Micro’s prior accounting scandal; (iii) Super Micro had a closer relationship to its related parties than disclosed; and (iv) Super Micro had not ceased exporting products to areas restricted by the United States government as a result of the Russia-Ukraine war, risking government sanction.
When investors learned the truth, Super Micro’s common stock declined precipitously, injuring investors.
If you suffered a loss of more than $200,000 in Super Micro’s securities, and wish to participate, or learn more, click here, or please contact our attorneys at (914) 733-7256 or via email to Andrea Farah (afarah@lowey.com) or Vincent R. Cappucci Jr. (vcappucci@lowey.com).
Any investor who wishes to serve as Lead Plaintiff must act before October 29, 2024.
About Lowey Dannenberg
Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has recovered billions of dollars on behalf of its clients.
SOURCE: Lowey Dannenberg P.C.
