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SMCI.US
id: 475

Super Micro Securities Settlement

It is still possible to file a late claim. The court will decide whether to accept late claims or not.
N.D. California
Court
05 Aug 2016
Class period Start
30 Jan 2018
Class period End
27 Feb 2023
Claim deadline
Super Micro Computer (SMCI) agreed to pay up to $18.25 million to settle a securities class action lawsuit to avoid further litigation.

The Complaint alleged that the Company and its Leaders made misleading statements regarding the Company’s business, operations and compliance policies.

Specifically, they made false and/or misleading statements and/or failed to disclose that: (i) Super Micro’s financial statements contained accounting errors, including errors with respect to one of the Company’s sales transactions; (ii) as such, the Company’s internal controls were not effective; (iii) Super Micro lacked the capability to timely review and assess the impact of the foregoing issues;
Alleged Offence
Other
Suspected Party
Other
Security Type
Stocks
Trade Direction
Long
Filing date
08 February 2018
Plaintiffs
New York Hotel Trades Council & Hotel Association of New York City, Inc. Pension Fund
Attorneys
Pitta LLP (New York, ), Robbins Geller Rudman & Dowd LLP (San Francisco, CA)
Defendants
Charles Liang, Howard Hideshima, and Yih-Shyan (Wally) Liaw
Judge
Hon. Jon S. Tigar
Administrator
Gilardi & Co LLC
Court hearing date
02 March 2023
Exclusion deadline
09 February 2023
Objection deadline
09 February 2023
Hearing deadline
09 February 2023
+$18,250,000
Cash Settlement Amount

Super Micro Computer Inc

Super Micro Computer, Inc., together with its subsidiaries, develops and manufactures high performance server and storage solutions based on modular and open architecture in the United States, Euro...

    Ticker
    SMCI.US
    ISIN
    US86800U1043
    CIK
    1375365
    Sector
    Technology
    Industry
    Computer Hardware
    Country
    USA
    Address
    980 Rock Avenue, San Jose, CA, United States, 95131