SAN DIEGO–(BUSINESS WIRE)–Robbins Geller Rudman & Dowd LLP announces an investigation into potential violations of U.S. federal securities laws by Super Micro Computer, Inc. (NASDAQ: SMCI) focused on whether Super Micro and certain of its top executive officers made false and misleading statements and/or failed to disclose material information to investors.
If you have information that could assist in this investigation or if you are a Super Micro investor who suffered a loss and would like to learn more, you can provide your information here:
THE COMPANY: Super Micro develops and manufactures server and storage solutions for various markets, including enterprise data centers, cloud computing, artificial intelligence, 5G, and edge computing.
THE REVELATIONS: On January 10, 2023, Spruce Point Capital Management published a report entitled “Micro And Macro Issues At Super Micro Computer,” disclosing its “grave concerns about the accuracy of its financial reporting.” Spruce Point noted that “investors appear to be buying into the CEO’s aggressive, if not outlandish and wildly optimistic revenue targets, even if they include related-party revenues,” “caution[ing investors] that Super Micro’s business has, at best, quarterly revenue visibility and it does not even report a backlog figure.” On this news, the price of Super Micro shares fell more than 7%.
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