Wed Sep 11 23:40:00 UTC 2024: ## Super Micro Computer Faces Class Action Lawsuit Over Alleged Accounting Fraud

**LOS ANGELES, CA – September 11, 2024** – Investors who purchased Super Micro Computer, Inc. (SMCI) securities between February 2, 2021 and August 28, 2024, are being offered the opportunity to join a class action lawsuit alleging the company misrepresented its financial performance.

The lawsuit, filed by Glancy Prongay & Murray LLP (GPM), stems from a report published by Hindenburg Research on August 27, 2024, which accused Super Micro of engaging in “glaring accounting red flags,” undisclosed related-party transactions, sanctions and export control failures, and customer issues. These accusations led to a significant drop in Super Micro’s stock price, falling 21.2% over two trading days.

The lawsuit alleges that Super Micro, during the specified period, made false and misleading statements about its business, operations, and prospects. Specifically, the company is accused of:

* Overreporting sales and underreporting expenses.
* Re-hiring executives previously involved in a prior accounting scandal.
* Concealing the true nature of its relationships with related parties.
* Failing to disclose the full extent of its related party network.
* Continuing to export products to areas restricted by the U.S. government, potentially violating sanctions.

The lawsuit claims that these alleged misrepresentations and omissions caused investors to suffer financial losses.

Investors who purchased Super Micro securities during the specified timeframe have until October 29, 2024, to apply to be appointed as lead plaintiff in the lawsuit. Those who wish to learn more about the class action lawsuit are encouraged to contact GPM directly.

**About Glancy Prongay & Murray LLP:**

Glancy Prongay & Murray LLP is a leading national shareholder rights law firm representing investors in class action lawsuits. The firm’s attorneys have extensive experience in complex litigation and have recovered billions of dollars for investors.

**Disclaimer:**

This press release is not a solicitation of clients and is for informational purposes only. Please note that this is an attorney advertisement. Glancy Prongay & Murray LLP is not currently representing any clients in this matter. Prior results do not guarantee a similar outcome.

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