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SMCI.US
id: 1011

Super Micro Computer (SMCI) Spruce's Financial Reporting Concerns Case

  • In January 2023, Spruce Point expressed concerns over Super Micro’s financial reporting.
  • On it, $SMCI fell 7.6%, losing $357M+ of shareholder value.
  • Investors may have grounds to suspect Super Micro & CEO of unlawful business practices, which led to their losses.
On January 10, 2023, Spruce Point Capital Management released a report expressing grave concerns about the accuracy of Super Micro's financial reporting and the sustainability of its recent stock price performance.

The report also mentioned that the Company and its CEO had a troubling history that recently resulted in delinquent filings, financial restatements, and a delisting of its shares.

On this news, $SMCI fell 7.6% and lost over $357 million of its market capitalization, seriously damaging shareholders.

Considering all the information, investors might have grounds to suspect Super Micro of unlawful business practices, which led to their losses.

The case is already under investigation by at least one of the reputable law firms.
Case Status
Attorney Investigation
Alleged Offence
Misleading Statements
Financial Misrepresentation
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
10 January 2023
Collecting participants…

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