An investigation on behalf of current long term investors in Super Micro Computer, Inc. (NASDAQ:SMCI) shares over possible breaches of fiduciary duty by certain officers and directors was announced and NASDAQ:SMCI stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 01/27/2016 -- An investigation for shareholders in Super Micro Computer, Inc. (NASDAQ:SMCI) concerning potential breaches of fiduciary duties by certain directors of Super Micro Computer, Inc. was announced.
Investors who are current long term investors in Super Micro Computer, Inc. (NASDAQ:SMCI) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm for current long term investors in NASDAQ:SMCI stocks follows a lawsuit filed recently against Super Micro Computer, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ:SMCI stocks, concerns whether certain Super Micro Computer officers and directors are liable in connection with the allegations made in that lawsuit.
The plaintiff alleges that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between September 15, 2014 and August 31, 2015 made allegedly false and/or misleading statements and/or allegedly failed to disclose that Super Micro Computer, Inc. improperly recorded expenses in its financial reports, that as a result, Super Micro Computer's reported net income was misstated, that Super Micro Computer, Inc. lacked adequate internal financial controls, and that as a result of the above, Super Micro Computer's financial statements were materially false and misleading at all relevant times.
On August 31, 2015, post-market, Super Micro Computer, Inc. announced that it has determined that it is unable to file its Annual Report on Form 10-K for the fiscal year ended June 30, 2015 within the prescribed time period without unreasonable effort or expense. Super Micro Computer, Inc. said that it recently discovered certain irregularities regarding certain marketing expenses and additional time is required for Super Micro Computer, Inc. to complete its investigation of the matter.
Shares of Super Micro Computer, Inc. (NASDAQ:SMCI) declined from $41.13 per share in February 2015 to as low as $21.25 on January 11, 2016.
Those who purchased shares of Super Micro Computer, Inc. (NASDAQ:SMCI) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com