NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Super Micro Computer, Inc. (NASDAQ:SMCI) resulting from allegations that Super Micro Computer may have issued materially misleading business information to the investing public.
On October 26, 2017, Super Micro Computer announced it was delaying the filing of its Annual Report on Form 10-K for the fiscal year ended June 30, 2017 due, in part, to “a sales transaction [that] was subject to additional inquiry and review.” The transaction in question was originally recorded as revenue during the quarter ended December 31, 2016, but was reversed prior to review by Super Micro Computer’s auditors and its public announcement of results for the quarter, and subsequently recognized in the quarter ended March 31, 2017. Super Micro Computer’s audit committee is investigating whether similar transactions occurred and were properly accounted for. On this news, shares of Super Micro Computer fell $1.22 per share or over 5% to close at $20.48 per share on October 27, 2017.
Rosen Law Firm is investigating a class action lawsuit against Super Micro Computer to recover losses suffered by Super Micro Computer investors. If you purchased shares of Super Micro Computer, please visit the firm’s website at http://www.rosenlegal.com/cases-1229.html for more information. You may also contact Phillip Kim or Kevin Chan of Rosen Law Firm toll free at 866-767-3653 or via email at firstname.lastname@example.org or email@example.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Since 2014, Rosen Law Firm has been ranked #2 in the nation by Institutional Shareholder Services for the number of securities class action settlements annually obtained for investors.
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