San Diego, CA — 11/13/2017 — An investigation was announced for investors in NASDAQ:SMCI shares concerning possible violations of securities laws by Super Micro Computer, Inc.
The investigation by a law firm focuses on whether a series of statements by Super Micro Computer, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On October 26, 2017, Super Micro Computer, Inc announced that the Company will delay the filing of its annual report on Form 10-K in order to complete an investigation related to a specific sales transaction.
Super Micro Computer, Inc advised investors that the transaction at issue was originally recorded as revenue during the quarter ended December 31, 2016, but that prior to review by Super Micro's auditors and the Company's public announcement of its results for the quarter, the recognition of revenue was reversed and recognized in the quarter ended March 31, 2017. When the Company's audit committee became aware of the transaction, it initiated an investigation to determine whether any similar transactions had occurred and, if so, had been properly accounted for.
Those who purchased shares of Super Micro Computer, Inc. (NASDAQ:SMCI) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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