Update in Lawsuit for Investors in Super Micro Computer, Inc. (NASDAQ: SMCI) Shares Announced by Shareholders Foundation
SAN DIEGO, CA, February 7, 2018 (Newswire.com) - The Shareholders Foundation, Inc. announces that a lawsuit is pending for certain purchasers of NASDAQ: SMCI shares against Super Micro Computer, Inc. over alleged violations of Securities Laws.
Investors, who purchased shares of Super Micro Computer, Inc. (NASDAQ: SMCI) in 2014 or earlier and continue to hold any of those NASDAQ: SMCI shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On September 4, 2015, a lawsuit was filed against Super Micro Computer, Inc. over alleged securities laws violations. The plaintiff alleged that the defendants 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'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's financial statements were materially false and misleading at all relevant times.
On April 1, 2016, an amended complaint was filed and on May 16, 2016, the defendants filed their motion to dismiss the case. On September 29, 2017, the court granted the defendants motion to dismiss the case but gave the plaintiff leave to amend the complaint and on December 1, 2017, a second amended complaint was filed.
Those who purchased Super Micro Computer, Inc. (NASDAQ: SMCI) shares should contact the Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
SOURCE: Shareholders Foundation, Inc.
Source: Shareholders Foundation, Inc.
