Super Micro Faces U.S. Justice Department Probe and Lawsuits Over Alleged Accounting Violations

Schubert Jonckheer & Kolbe LLP advises Super Micro Computer, Inc. investors that the firm is investigating potential legal claims against the company’s officers and directors following a recent bombshell investment analyst report revealing alleged wrongdoing, a U.S. Justice Department probe, and the company’s delayed 10-K annual report filing. Current shareholders are encouraged to contact the firm.

On August 27, 2024, investment analyst firm Hindenburg Research issued a report exposing alleged accounting violations, undisclosed related party transactions, export control issues, and other alleged wrongdoing at server maker Supermicro. A day later, Supermicro announced it needed additional time to file its fiscal 2024 annual report while management assessed “the design and operating effectiveness of its internal controls over financial reporting.” Based on these facts, the company has been sued in securities fraud class actions. Then, on September 26, 2024, The Wall Street Journal reported that the U.S. Department of Justice was investigating Supermicro concerning the matters raised in the Hindenburg Research report. 

The Schubert firm is investigating potential wrongdoing by Supermicro’s officers and directors in connection with these allegations.