INTRODUCTION TO THE SUPER MICRO CLASS ACTION LAWSUIT

The Super Micro class action lawsuit – captioned Averza v. Super Micro Computer, Inc., No. 24-cv-06147 (N.D. Cal.) seeks to represent purchasers or acquirers of Super Micro Computer, Inc.’s (NASDAQ: SMCI) publicly traded securities between August 31, 2023, and August 28, 2024, both dates inclusive (the “Class Period”). The Super Micro class action lawsuit charges Super Micro and certain of Super Micro’s top executives with violations of the Securities Exchange Act of 1934. A subsequently filed complaint is captioned Menditto v. Super Micro Computer, Inc., No. 24-cv-06149 (N.D. Cal.).

Lead plaintiff motions for the Super Micro class action lawsuit must be filed with the court no later than October 29, 2024.

ALLEGATIONS IN THE SUPER MICRO CLASS ACTION LAWSUIT

Super Micro develops and manufactures high performance server and storage solutions. The Super Micro class action lawsuit alleged the defendants made false and misleading statements during the class period, among other accounting irregularities:

​False Statements and Accounting Irregularities:

Super Micro allegedly consistently overreported sales and underreported expenses

The company re-hired multiple executives who had departed after a previous accounting scandal

Related Party Transactions:

Super Micro maintained a closer relationship with related parties than disclosed

Sanctions Evasion:

The company allegedly continued exporting products to areas restricted by the U.S. government due to the Russia-Ukraine war

This action risked government sanctions

• August 27, 2024:
• Hindenburg Research released a report titled “Super Micro: Fresh Evidence of Accounting Manipulation, Sibling Self-Dealing And Sanctions Evasion At This AI High Flyer”
• August 28, 2024:
• Super Micro announced a delay in filing its Form 10-K for Fiscal Year 2024
• Reason given: Need for additional time to assess internal controls over financial reporting
• Impact: Super Micro’s stock price fell more than 21% over two trading sessions

THE LEAD PLAINTIFF DEADLINE IN THE SUPER MICRO CLASS ACTION LAWSUIT

​Lead plaintiff motions for the Super Micro ​class action lawsuit must be filed with the court no later than October 28, 2024.​

When a securities class action is filed such as the Super Micro class action lawsuit:

The person who files the first complaint is required to publish a notice announcing the filing.

Anyone who wants to be lead plaintiff on behalf of the class must thereafter file a motion to be appointed as lead plaintiff(s) no later than 60 days after the notice was published.

THE LEAD PLAINTIFF PROCESS IN THE SUPER MICRO CLASS ACTION LAWSUIT

The Private Securities Litigation Reform Act of 1995 (PSLRA) permits any investor who purchased and suffered losses in Super Micro​​ stock to seek appointment as lead plaintiff in the Super Micro class action lawsuit.

A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class.

A lead plaintiff acts on behalf of all other class members in directing the class action lawsuit.

The lead plaintiff can select a law firm of its choice to litigate the securities class action lawsuit.

An investor’s ability to share in any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff.

ELIGIBILITY CRITERIA FOR LEAD PLAINTIFF APPOINTMENT

To be eligible for appointment as the lead plaintiff in the Super Micro class action lawsuit, an investor must meet the following criteria:

Securities Acquisition: The investor must have purchased or acquired Super Micro​ common stock during the Class Period, spanning August 31, 2023, and August 28, 2024.

Financial Losses: The investor must have suffered financial losses as a direct result of the alleged securities fraud perpetrated by Super Micro​ and its executives.

Typicality and Adequacy: The investor’s legal claims must be typical of those asserted on behalf of the class, and they must demonstrate their ability to adequately represent the interests of the entire class through experience, resources, and the absence of conflicts of interest.

It is crucial to note that both domestic and international investors who meet these criteria are eligible to seek appointment as the lead plaintiff in the Super Micro class action lawsuit, as courts have consistently recognized the rights of non-U.S. investors in securities class actions.