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NEW YORK, NY / ACCESSWIRE / February 10, 2018 / Pomerantz LLP announces that a class action lawsuit has been filed against Super Micro Computer, Inc. ("Super Micro" or the "Company") (SMCI) and certain of its officers. The class action, filed in United States District Court, for the Northern District of California, and docketed under 18-cv-00838, is on behalf of a class consisting of investors who purchased or otherwise acquired Super Micro securities, seeking to recover compensable damages caused by defendants' violations of the Securities Exchange Act of 1934.
If you are a shareholder who purchased Super Micro securities between January 27, 2017, and January 30, 2018, both dates inclusive, you have until April 9, 2018, to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 9980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
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Super Micro Computer, Inc. designs, develops, manufactures and sells server solutions based on modular and open-standard architecture. The Company's products include servers, motherboards, chassis, and accessories.
The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Super Micro's financial statements contained accounting errors, including errors with respect to one of the Company's sales transactions; (ii) as such, the Company's internal controls were not effective; (iii) Super Micro lacked the capability to timely review and assess the impact of the foregoing issues; and (iv) as a result, Super Micro's public statements were materially false and misleading at all relevant times.
On August 29, 2017, post-market, Super Micro filed a Notice of Late Filing with the SEC, reporting that the Company "is not in a position to file its Form 10-K for fiscal year ended June 30, 2017 (the 'Form 10-K'), in a timely manner because the Registrant cannot complete the Form 10-K in a timely manner without unreasonable effort or expense" and that "[a]dditional time is needed for the Company to compile and analyze certain information and documentation and complete preparation of its financial statements."