Super Micro Computer, Inc. (SMCI)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Super Micro Computer, Inc. (“Super Micro” or “the Company”) (NASDAQ: SMCI). Investors who purchased Super Micro securities are encouraged to obtain additional information and assist the investigation.
The investigation concerns whether Super Micro has violated federal securities laws.
Investigation Details:
On March 17, 2024, the Wall Street Journal published an article entitled “Meet the Tech Company That Had a Better Year Than Nvidia”, reporting that Super Micro “has become a go-to supplier for companies and governments eager to participate in the AI boom” and reporting that the Company’s Chief Executive Officer (“CEO”) Charles Liang “said his goal was to be producing 5,000 racks of servers a month . . . by the middle of this year.”
On March 18, 2024, in a filing with the U.S. Securities and Exchange Commission, Super Micro issued a clarification regarding CEO Liang’s comments, stating that the Company “is continuing to work towards achieving Mr. Liang’s stated capacity goal in the stated timeframe, but the Company’s ability to do so is dependent on its ability to address supply chain constraints on AI platform-related components (including GPUs, CPUs, networking cards and high performance memory), its ability to raise sufficient capital to fund this growth, continued demand for its products, including its AI-compatible servers, as well as other operational, strategic and industry risks.”
Following Super Micro’s clarification, the Company’s stock price fell sharply during intraday trading on March 19, 2024.
What’s Next?
If you are aware of any facts relating to this investigation or purchased Super Micro securities, you can assist this investigation. You can also contact Peretz Bronstein or his law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 332-239-2660.
There is No Cost to You
We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys’ fees, usually a percentage of the total recovery, only if we are successful.
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Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide.
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Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson