Former United States Securities and Exchange Commission attorney Willie
Briscoe, founder of The
Briscoe Law Firm, PLLC, and the securities litigation firm of Powers
Taylor LLP announce that a federal class action lawsuit has been
filed in the United States District Court for the Northern District of
California against Super Micro Computer, Inc. (“SMCI”) (NASDAQ: SMCI)
and several officers and directors for acts taken during the period of
September 15, 2014 and August 31, 2015 (the “Class Period”).
Based upon the allegations in the class action, the firms are
investigating additional legal claims against the officers and Board of
Directors of SMCI. If you are an affected SMCI shareholder and want to
learn more about the lawsuit or join the action, contact Willie Briscoe
at The Briscoe Law Firm, PLLC via email at shareholders@thebriscoelawfirm.com,
Patrick Powers at Powers Taylor LLP via email at shareholder@powerstaylor.com,
or call toll free at (877) 728-9607. There is no cost or fee to you.
According to the complaint, the defendants are alleged to have violated
certain provisions of the Securities Exchange Act of 1934. Specifically,
the complaint alleges, among other things, that SMCI improperly recorded
expenses in its financial reports, resulting in misstated net income
reports. The complaint also alleges that SMCI lacked adequate internal
financial controls. After the close of trading on August 31, 2015, SMCI
announced that it would not be able to timely file its Form 10-K for the
fiscal year ended June 30, 2015 because it had recently discovered
irregularities regarding certain marketing expenses and that an internal
investigation was being conducted. SMCI stock dropped significantly
immediately following this announcement.
The
Briscoe Law Firm, PLLC is a full service business litigation,
commercial transaction, and public advocacy firm with more than 20 years
of experience in complex litigation and transactional matters.
Powers
Taylor LLP is a boutique litigation law firm that handles a variety
of complex business litigation matters, including claims of investor and
stockholder fraud, shareholder oppression, shareholder derivative suits,
and security class actions.
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