SMCI Investors: GPM Announces the Filing of a Securities Class Action on Behalf of Super Micro Computer, Inc. Investors
October 08 2015 - 9:08PM
Business Wire
Glancy Prongay & Murray LLP (“GPM”) announces the filing of
a class action lawsuit on behalf of investors of Super Micro
Computer, Inc. (“Super Micro” or the “Company”) (NASDAQ:SMCI)
between September 15, 2014 and August 31, 2015, inclusive (the
“Class Period”). Injured investors are encouraged to contact Lesley
Portnoy of GPM at 310-201-9150 to discuss their legal rights.
On August 31, 2015, Super Micro disclosed that the Company, “has
determined that it is unable to file its Annual Report on Form 10-K
for the fiscal year ended June 30, 2015 within the prescribed time
period without unreasonable effort or expense. [Super Micro]
recently discovered certain irregularities regarding certain
marketing expenses and additional time is required for [Super
Micro] to complete its investigation of the matter.” On this news,
Super Micro shares fell $2.58 per share or 9%, to close on
September 1, 2015 at $24.77, thereby damaging investors.
The class action lawsuit complaint, filed on behalf of injured
Super Micro investors, alleges that throughout the Class Period,
defendants improperly recorded expenses in its financial reports;
misstated net income, lacked adequate internal controls, and as a
result of the above, the Company’s financial statements were
materially false and misleading at all relevant times.
If you purchased shares of SuperMicro during the Class Period
you may move the Court no later than November 3, 2015. If
you have information or would like to learn more about these
claims, or have any questions concerning this announcement or your
rights or interests with respect to these matters, please contact
Lesley Portnoy, of GPM, 1925 Century Park East, Suite 2100, Los
Angeles, California 90067 at 310-201-9150, Toll-Free at
888-773-9224, by email to shareholders@glancylaw.com, or visit our
website at http://www.glancylaw.com. If you inquire by email please
include your mailing address, telephone number and number of shares
purchased.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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Glancy Prongay & Murray, Los AngelesLesley Portnoy,
310-201-9150 or
888-773-9224shareholders@glancylaw.comwww.glancylaw.com