NEW ORLEANS--(BUSINESS WIRE)--ClaimsFiler, a FREE shareholder information service, reminds investors that they have until April 9, 2018 to file lead plaintiff applications in a securities class action lawsuit against Super Micro Computer, Inc. (NasdaqGS: SMCI), if they purchased the Company’s securities between the expanded period of August 5, 2016 and January 30, 2018, inclusive (the “Class Period”). This action is pending in the United States District Court for the Northern District of California.
Super Micro investors should visit us at https://www.claimsfiler.com/cases/view-super-micro-computer-inc-securities-litigation-1 or call to speak to our claim center toll-free at (844) 367-9658.
About the Lawsuit
Super Micro and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On October 26, 2017, the Company disclosed an investigation into revenue originally recorded in Q2 ended December 31, 2016, that “the recognition of revenue was reversed and…subsequently recognized in [Q3] ended March 31, 2017,” extending a previously-announced delay of filing its 10-K. Then, on January 30, 2018, the Company revealed an additional delay of filing the 10-K stating that further analysis was needed into the revenue matter and potential ramifications on its financial statements.
On this news, the price of Super Micro’s shares plummeted.
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