| COMPANY |
Super Micro Computer, Inc. |
| COURT |
United States District Court for the Northern District of California |
| CASE NUMBER |
18-cv-00838 |
| JUDGE |
The Honorable Jon Steven Tigar |
| CLASS PERIOD |
8/5/2016 - 1/30/2018 |
| SECURITY TYPE |
Common Stock |
Case Background:
On February 8, 2018, the initial complaint in this securities class action was filed against Super Micro Computer, Inc. ("Super Micro" or the "Company"), and certain of Super Micro’s directors and officers, asserting violations of Sections 10(b) and 20(a) of the Securities Exchange Act. This is a federal securities class action lawsuit brought on behalf of all purchasers of the common stock of Super Micro between August 5, 2016 and January 30, 2018, both dates inclusive (the “Class Period”).
The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Super Micro's financial statements contained accounting errors, including errors with respect to one of the Company's sales transactions; (2) as such, the Company's internal controls were not effective; (3) Super Micro lacked the capability to timely review and assess the impact of the foregoing issues; and (4) as a result, Super Micro's public statements were materially false and misleading at all relevant times.
Current Status of Case:
On April 8, 2022, Lead Plaintiffs filed an Unopposed Motion for Preliminary Approval of Proposed Settlement. On November 8, 2022, the Court issued an Order Preliminarily Approving Settlement and scheduled a Final Settlement Hearing for March 2, 2023. On May 5, 2023, the Court approved the Settlement of this action. This action has concluded.
The deadline to file a claim is February 27, 2023. You may find additional information regarding the terms of the settlement and claim filing process at http://www.supermicrosecuritiessettlement.com/ or by calling the claims administrator, Gilardi & Co. LLC, at 1-888-859-1906.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.