INVESTOR ALERT: Edelson Lechtzin LLP Announces Investigation of Super Micro Computer, Inc. (NASDAQ: SMCI) and Encourages Investors with Substantial Losses or Witnesses with Relevant Information to Contact the Firm
NEWTOWN, Pa., Aug. 28, 2024 /PRNewswire/ -- Edelson Lechtzin LLP is investigating potential violations of the federal securities laws involving Super Micro Computer, Inc. (NASDAQ: SMCI) resulting from allegations of providing potentially misleading business information to the investing public.
If you have non-public information that could assist in the Super Micro Computer investigation or if you are a Super Micro Computer investor who suffered a loss and would like to learn more, you can provide your information HERE.
You can also contact attorney Eric Lechtzin of Edelson Lechtzin LLP by calling 844-563-5550 (ext. 1) or via e-mail at [email protected].
THE COMPANY: Super Micro Computer provides high-performance server technology services to cloud computing data centers and management software.
THE ALLEGED WRONGDOING: On August 27, 2024, Hindenburg Research published an article that accused Super Micro Computer of "glaring accounting red flags, evidence of undisclosed related party transactions, sanctions and export control failures, and customer issues." The report also stated, "[P]ressure to meet quotas pushed salespeople to stuff the channel with distributors using 'partial shipments' or by shipping defective products around quarter-end, per our interviews with former employees and customers."
THE REVELATION: On news of the Hindenburg Research report, the price of Super Micro Computer stock fell 2% on August 27, and plunged 19% on August 28, after the company disclosed that it would delay the filing of its annual report for its fiscal year that ended June 30, 2024.
ABOUT EDELSON LECHTZIN LLP: Edelson Lechtzin LLP is a national class action law firm with offices in Pennsylvania and California. In addition to cases involving securities and investment fraud, our lawyers focus on class and collective litigation in cases alleging violations of the federal antitrust laws, employee benefit plans under ERISA, wage theft and unpaid overtime, consumer fraud, and dangerous and defective drugs and medical devices.
For more information, please contact:
Marc H. Edelson, Esq.
Eric Lechtzin, Esq.
EDELSON LECHTZIN LLP
411 S. State Street, Suite N-300
Newtown, PA 18940
Phone: 844-696-7492 or 215-867-2399 ext. 1
Email: [email protected]
Email: [email protected]
Web: www.edelson-law.com
This press release may be considered Attorney Advertising in some jurisdictions. No class has been certified in this case, so you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. Your ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
SOURCE Edelson Lechtzin LLP
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