Sign In
SMCI.US
id: 475

Super Micro Securities Settlement

N.D. California
Court
08/05/2016
Class period Start
01/30/2018
Class period End
02/27/2023
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;
Case Status
Disbursed
Alleged Offence
Other
Suspected Party
Other
Security Type
Stocks
Trade Direction
Long
Filing date
02/08/2018
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
03/02/2023
Exclusion deadline
02/09/2023
Objection deadline
02/09/2023
Hearing deadline
02/09/2023
Trades matching type
FIFO
Disbursement date
02/23/2024
+$18,250,000
Cash Settlement Amount