Lawsuit Overview
July 24, 2018 - The lead plaintiff filed a notice of appeal.
June 27, 2018 - The court granted defendants' motion to dismiss without leave to amend.
January 12, 2018 - Defendants filed a motion to dismiss.
December 1, 2017 - The lead plaintiff filed an amended complaint on behalf of investors who purchased Super Micro Computer Inc (NASDAQ: SMCI) common shares between September 15, 2014 and November 16, 2015. The lead plaintiff alleges that the defendants violated the Securities Exchange Act of 1934 by issuing false and misleading statements between September 15, 2014 and November 16, 2015.
September 29, 2017 - The court granted defendants' motion to dismiss with leave to amend.
May 15, 2016 - Defendants filed a motion to dismiss.
April 1, 2016 - The lead plaintiff filed an amended complaint on behalf of investors who purchased Super Micro Computer Inc (NASDAQ: SMCI) common shares between September 15, 2014 and November 10, 2015. The lead plaintiff alleges that the defendants violated the Securities Exchange Act of 1934 by issuing false and misleading statements between September 15, 2014 and November 10, 2015.
January 4, 2016 - Lead plaintiff and lead counsel were appointed.
November 4, 2015 - Lead plaintiff motions were filed.
September 4, 2015 - An investor in shares of Super Micro Computer Inc (NASDAQ: SMCI) filed a lawsuit in the U.S. District Court for the Northern District of California over alleged violations of Federal Securities Laws by Super Micro Computer Inc in connection with certain allegedly false and misleading statements made between September 15, 2014 and August 31, 2015.
According to the complaint the plaintiff alleges on behalf of purchasers of Super Micro Computer Inc (NASDAQ: SMCI) common shares between September 15, 2014 and August 31, 2015, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between September 15, 2014 and August 31, 2015 made allegedly false and/or misleading statements and/or allegedly failed to disclose that Super Micro Computer Inc improperly recorded expenses in its financial reports, that as a result, Super Micro Computer Inc’s reported net income was misstated, that Super Micro Computer Inc lacked adequate internal financial controls, and that as a result of the above, Super Micro Computer Inc’s financial statements were materially false and misleading at all relevant times.
On August 31, 2015, post-market, Super Micro Computer Inc announced that it 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 Computer Inc said that it recently discovered certain irregularities regarding certain marketing expenses and additional time is required for Super Micro Computer Inc to complete its investigation of the matter.
Shares of Super Micro Computer Inc (NASDAQ: SMCI) declined from $41.13 per share in February 2015 to as low as $23.42 per share on September 1, 2015.