Super Micro Shareholder News: Johnson Fistel Encourages MSCI Shareholders with Losses to Contact the Firm Regarding Class Action Investigation
Shareholder rights law firm Johnson Fistel, LLP is investigating whether Super Micro, Inc. (“Super Micro” or the “Company”) (NASDAQ: SMCI), any of its executive officers, or others violated securities laws by misrepresenting or failing to timely disclose material, adverse information to investors. The investigation focuses on investors’ losses and whether they may be recovered under federal securities laws.
What if I purchased SMCI common stock? If you purchased SMCI common stock and suffered significant losses on your investment, join our investigation now:
Or for more information, contact Jim Baker at jimb@johnsonfistel.com or (619) 814-4471
There is no cost or obligation to you.
What is Johnson Fistel investigating? On January 10, 2023, Spruce Point Capital issued a short report alleging multiple claims. The report states “SMCI and its CEO have a troubling history that recently resulted in delinquent filings, financial restatements, and a delisting of its shares.” The article further states “In 2020, the SEC levied a massive $17.5 million fine and ordered the return of $2.1 million by the CEO for unjust stock sales in what the SEC described as ‘widespread accounting violations’ tied to revenue and expense recognition.”
The report also questions SMCI’s “outlandish long-term revenue goals” even when they include related-party revenues and “come from a company with a troubling history known to aggressively push employees to record revenues without proper accounting controls.”
Following this news, on January 10, 2023, Super Micro’s shares fell by over 7%.
What if I have relevant nonpublic information? Individuals with nonpublic information regarding the company should consider whether to assist our investigation or take advantage of the SEC Whistleblower program. Under the SEC program, whistleblowers who provide original information may, under certain circumstances, receive rewards totaling up to thirty percent of any successful recovery made by the SEC. For more information, contact Jim Baker at (619) 814-4471 or jimb@johnsonfistel.com.
Contact:
Johnson Fistel, LLP
Jim Baker, Lead Securities Analyst
Telephone: (619) 814-4471
Email: jimb@johnsonfistel.com