Energy News / Shareholders Foundation, Inc.

NASDAQ:SMCI Shareholder Notice: Lawsuit Filed Against Super Micro Computer, Inc

Via: ReleaseWire

Updated 11:00 AM CST, Wed, February 21,2018

A lawsuit was filed on behalf of investors in Super Micro Computer, Inc. (NASDAQ:SMCI) shares over alleged securities laws violations. Deadline: April 9, 2018. NASDAQ:SMCI investors should contact the Shareholders Foundation.

San Diego, CA -- (SBWIRE) -- 02/21/2018 -- The Shareholders Foundation announces that an investor, who purchased NASDAQ:SMCI shares, filed a lawsuit against Super Micro Computer, Inc. over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements.

Investors who purchased shares of Super Micro Computer, Inc. (NASDAQ:SMCI) have certain options and for certain investors are short and strict deadlines running. Deadline: April 9, 2018. NASDAQ:SMCI investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The plaintiff claims that between January 27, 2017, and January 30, 2018, the , defendants made false and/or misleading statements and/or failed to disclose that Super Micro's financial statements contained accounting errors, including errors with respect to one of the Company's sales transactions, that as such, the Company's internal controls were not effective, that Super Micro lacked the capability to timely review and assess the impact of the foregoing issues, and that as a result, Super Micro's public statements were materially false and misleading at all relevant times.

On August 29, 2017, Super Micro Computer, Inc. disclosed it required additional time to file its 2017 10-K.

On September 14, 2017, Super Micro Computer, Inc. disclosed it had received a Non-Compliance letter from Nasdaq.

On October 26, 2017, Super Micro Computer, Inc. reaffirmed its delay in filing the 10-K, stating that "In connection with the in-process audit of the Company's financial results for the year ended June 30, 2017, a sales transaction was subject to additional inquiry and review".

Then on January 30, 2018, Super Micro Computer, Inc. stated that "the Audit Committee has completed the previously disclosed investigation. Additional time is required to analyze the impact, if any, of the results of the investigation on the Company's historical financial statements, as well as to conduct additional reviews before the Company will be able to finalize its Annual Report on Form 10-K for the fiscal year ended June 30, 2017 (the "Form 10-K")".

Those who purchased shares of Super Micro Computer, Inc. (NASDAQ:SMCI) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

For more information on this press release visit:
http://www.sbwire.com/press-releases/nasdaqsmci-shareholder-notice-lawsuit-filed-against-super-micro-computer-inc-936348.htm

Media Relations Contact
Michael Daniels
858-779-1554
Email: Click to Email Michael Daniels
Web: http://www.ShareholdersFoundation.com