LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces the filing of a class action lawsuit on behalf of investors of Super Micro Computer, Inc. (“Super Micro” or the “Company”) (NASDAQ:SMCI) between September 15, 2014 and August 31, 2015, inclusive (the “Class Period”). Injured investors are encouraged to contact Lesley Portnoy of GPM at 310-201-9150 to discuss their legal rights.
On August 31, 2015, Super Micro disclosed that the Company, “has determined that it is unable to file its Annual Report on Form 10-K for the fiscal year ended June 30, 2015 within the prescribed time period without unreasonable effort or expense. [Super Micro] recently discovered certain irregularities regarding certain marketing expenses and additional time is required for [Super Micro] to complete its investigation of the matter.” On this news, Super Micro shares fell $2.58 per share or 9%, to close on September 1, 2015 at $24.77, thereby damaging investors.
The class action lawsuit complaint, filed on behalf of injured Super Micro investors, alleges that throughout the Class Period, defendants improperly recorded expenses in its financial reports; misstated net income, lacked adequate internal controls, and as a result of the above, the Company’s financial statements were materially false and misleading at all relevant times.
If you purchased shares of SuperMicro during the Class Period you may move the Court no later than November 3, 2015. If you have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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