An investigation on behalf of investors of Super Micro Computer, Inc. (NASDAQ:SMCI) shares over potential securities laws violations by Super Micro Computer, Inc. and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Super Micro Computer, Inc. (NASDAQ:SMCI) concerning whether a series of statements by Super Micro Computer, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

San Jose, CA based Super Micro Computer, Inc. is engaged in developing and providing end-to-end green computing solutions to the cloud computing, data center, enterprise information technology (IT), big data, high performance computing (HPC) and Internet of Things (IoT)/embedded markets. Super Micro Computer, Inc. reported that its Total Revenue increased from over $2.21 billion for the 12 months period that ended on June 30, 2016 to over $2.52 billion for the 12 months period that ended on June 30, 2017 and that its Net Income over those time periods declined from $72.02 million to $69.32 million.

On October 26, 2017, Super Micro Computer, Inc announced that the Company 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 Computer, Inc 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.

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI) declined on October 27, 2017 to as low as $17.70 per share.