NEW YORK, Oct. 30, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Super Micro Computer, Inc. (NASDAQ: SMCI) on behalf of long-term stockholders following a class action complaint that was filed against Super Micro on August 30, 2024 with a Class Period from August 10, 2021 to August 26, 2024. Our investigation concerns whether the board of directors of Super Micro have breached their fiduciary duties to the company.
According to the complaint, on August 27, 2024, Hindenburg Research unveiled a short report on Super Micro. The short report detailed several allegations against the Company, including that Hindenburg “found glaring accounting red flags, evidence of undisclosed related party transactions, sanctions and control failures, and customer issues.”
Investors and analysts reacted immediately to these revelations. The price of Super Micro’s common stock declined dramatically. From a closing market price of $562.51 per share on August 26, 2024, Super Micro’s stock price fell to $443.49 per share on August 28, 2024, a decline of about 21.16% in the span of only two days.
If you are a long-term stockholder of Super Micro, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Marion Passmore by email at investigations@bespc.com, by telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
