Super Micro Computer, Inc.

Berger Montague (Canada) PC is an international shareholders’ rights law firm with experienced lawyers focused on litigating investors’ rights across Canada and the United States of America with an office in Toronto, Ontario. We have been retained by investors and proposed classes (groups) of investors who acquired Super Micro Computer, Inc. (“SMCI”) securities between (A): August 8, 2023 and October 29, 2024 and (B) April 16, 2024 and October 29, 2024, and who held all or some of those securities until after the release of at least one of the Public Corrective Disclosures.

This shareholder class action alleges that SMCI published material fact news that its business operations and financials were being reported in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), and that the Company’s internal control over financial reporting as of June 30, 2023 was based on criteria established in Internal Control — Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission and negligently reported that its financial statements, MD&As, and news releases published during the Class Period were accurate when, in fact, they were not.

On August 27, 2024, a third-party report was released to the market highlighting SMCI’s accounting irregularities. Said report provided examples of undisclosed related party transactions and of exporting products to Russia in contravention of both U.S. export restrictions and statements made to the markets. On October 30, 2024, SMCI released a statement that Ernst & Young had abruptly resigned as the company’s auditor and that Ernst & Young had  refused to provide an audit opinion for SMCI’s F/2024 financial statements. When the truth came out, SMCI investors lost substantial amounts of money as the share price sharply declined.

If you have questions about this shareholder class action, please contact us at (647) 576-7840, or by email at [email protected].