SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Super Micro Computer, Inc. (SMCI)
NEW YORK, Oct. 27, 2017 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Super Micro Computer, Inc. ("Super Micro" or the "Company") (NASDAQ: SMCI). Such investors are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/smci.
The investigation concerns whether Super Micro and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On October 26, 2017, after market hours, Super Micro revealed that it will delay the filing of its annual report on Form 10-K in order to complete an investigation related to a specific sales transaction. Super Micro advised investors that the transaction at issue was originally recorded as revenue during the quarter ended December 31, 2016, but that prior to review by Super Micro's auditors and the Company's public announcement of its results for the quarter, the recognition of revenue was reversed and recognized in the quarter ended March 31, 2017. When the Company's audit committee became aware of the transaction, it initiated an investigation to determine whether any similar transactions had occurred and, if so, had been properly accounted for. Following this news, Super Micro stock dropped as much as $4.00 per share, or 18.43%, during intra-day trading on October 27, 2017.
If you are aware of any facts relating to this investigation, or purchased Super Micro shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/smci. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [email protected]
SOURCE Bronstein, Gewirtz & Grossman, LLC
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