Case Background:
This is a federal securities fraud class action lawsuit on behalf of investors who purchased or otherwise acquired Super Micro Computer, Inc. (“Super Micro”) (NASDAQ: SMCI) securities between November 3, 2020 and October 30, 2024, inclusive (the “Class Period”).
Prior to the Class Period, Super Micro and its CEO were involved in a years-long accounting fraud. The SEC and a company auditor determined that Super Micro suffered from “material weaknesses in internal controls,” such to the extent that the Nasdaq exchange delisted Super Micro for a year and a half, and the SEC fined it $17.5 million. Upon being allowed back on the Nasdaq exchange, Super Micro assured investors that the company had changes its ways and would now maintain effective internal controls.
The complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material facts about the company’s business, operations, and prospects. Specifically, Defendants misrepresented and/or failed to disclose that: (1) Super Micro again failed to implement effective internal controls and engaged in accounting misconduct; (2) Super Micro made a practice of shipping out incomplete and non-functional products to customers on the final days of financial quarters so that they could book the “revenue” from the sales within the quarter; (3) revenue from hardware-and-services contracts was improperly recorded upfront in violation with accounting rules; (4) Super Micro delayed accounting for bills paid by subcontractors until the next quarter to inflate quarterly numbers; and (5) as a result of the foregoing, Defendants’ statements about the company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Current Status of Case:
On September 22, 2025, Lead Plaintiff filed theNovember 21, 2025, Defendants filed a Motion to Dismiss the Amended Complaint. The Motion has been fully briefed and isis pending decision before the Court. This action is ongoing.
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Kessler Topaz Meltzer & Check, LLP (KTMC) is a leading U.S. plaintiff-side law firm focused on securities-fraud class actions and global investor protection. The firm represents individual investors as well as institutions, such as major pension funds, asset managers, and international investors. KTMC has led some of the largest recoveries in securities litigation and has been recognized by peers and the legal media with numerous accolades, including The National Law Journal’s Plaintiff’s Hot List and Trailblazers in Plaintiffs' Law, BTI Consulting Group’s Honor Roll of Most Feared Law Firms, The Legal Intelligencer’s Class Action Firm of the Year, Lawdragon’s Leading Plaintiff Financial Lawyers, and Law360’s Titans of the Plaintiffs Bar. The firm operates globally with offices in Pennsylvania and California. KTMC has recovered over $25 billion for our clients and the classes they represent.