SUPER MICRO CLASS ACTION LAWSUIT: THE COMPLETE COMSUMER GUIDE

SUPER MICRO SUBMISSION FORM

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INTRODUCTION TO THE Super Micro CLASS ACTION LAWSUIT

Call Timothy L. Miles today for a free case evaluation in 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.).

If you have suffered losses in Super Micro stock and are interested in becoming the lead plaintiff in the Super Micro class action lawsuit or have any inquiries regarding your rights as a shareholder, please reach out to Super Micro Stock Loss Lawyer Timothy L. Miles at no cost.  You can contact him by calling 855/846-6529, sending an e-mail to [email protected], or filling out a contact form. 

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

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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:

1. The person who files the first complaint is required to publish a notice announcing the filing.
2. 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. 

YOU HAVE TWO CHOICES IF YOU RECEIVE A NOTICE IN THE Super Micro CLASS ACTION LAWSUIT

First, read the notice very carefully.  You have two choices. 

• First, you can do nothing and remain a member of the class represented by lead counsel. 
• Second, if you believe you have a large enough loss to justify it, you can opt out of the Super Micro class action lawsuit and file your own separate lawsuit.

​Note, that if you opt-out, you will not be able to participate in any settlement or recovery obtained in the Super Micro class action lawsuit. ​

THE LEAD PLAINTIFF PROCESS IN THE Super Micro CLASS ACTION LAWSUIT

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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. 

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THE BENEFITS OF SERVING AS A LEAD PLAINTIFF IN THE Super Micro CLASS ACTION LAWSUIT

1. Negotiating more competitive attorney fees and reducing litigation costs.
2. Managing the litigation by overseeing the progress of the case and reviewing important filings.
3. Participating in mediation and settlement discussions.
4. Having a voice in decision-making processes regarding the settlement.
5. No financial risk, as lead counsel covers all costs and expenses and are paid only if they secure a  settlement or judgment recovery for the class
6. Potentially enjoying long-term benefits from governance reform resulting from the litigation.

THE RESPONSIBILITIES THE LEAD PLAINTIFF WILL HAVE IN THE Super Micro CLASS ACTION LAWSUIT

1. Negotiating more competitive attorney fees and reducing litigation costs.
2. Managing the litigation by overseeing the progress of the case and reviewing important filings.
3. Participating in mediation and settlement discussions.
4. Having a voice in decision-making processes regarding the settlement.
5. No financial risk, as lead counsel covers all costs and expenses and are paid only if they secure a  settlement or judgment recovery for the class
6. Potentially enjoying long-term benefits from governance reform resulting from the litigation.

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:

1. 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.
2. 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.
3. 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.

LEGAL REQUIREMENTS FOR PREVAILING IN THE Super Micro CLASS ACTION LAWSUIT

1. Material Misrepresentation or Omission
2. Scienter
3. Connection to Securities Transaction
4. Reliance
5. Economic Loss
6. Loss Causation

STAGES OF THE Super Micro CLASS ACTION LAWSUIT

1. Consolidation and Lead Plaintiff Appointment
2. Filing of Consolidated Complaint
3. Motion to Dismiss
4. Class Certification
5. Discovery
6. Settlement Negotiations and Mediation
7. Summary Judgment Motions
8. Trial
9. Appeals

CONTINGENCY FEE ARRANGEMENTS AND COST CONSIDERATIONS

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Many securities' litigation attorneys, including Timothy L. Miles, operate on a contingency fee basis, which means:

• Clients do not pay any upfront fees or costs.
• Instead, the attorney's fees and expenses are deducted from any settlement or judgment recovered on behalf of the class, typically as a court-approved percentage of the total recovery.

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This arrangement ensures that investors can pursue their legal rights without bearing the financial burden of costly litigation, as the attorneys assume the risk and only receive compensation if they achieve a successful outcome for the class.

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Frequently Asked Questions

Can I serve as a lead plaintiff in the class action against Super Micro if I purchases shares outside of the class period?

​​No.  Even if you suffered losses in Super Micro ​​​stock, if you purchased securities outside of the Class period, you will not be able to participate in the Super Micro class action ​lawsuit.

Can I serve as a lead plaintiff in the class action against Super Micro if I am serving as lead plaintiff in another securities fraud case?

​​​​​Yes, unless you have been a lead plaintiff in more than five securities class actions during any three-year period which is expressly prohibited by the securities laws. Otherwise, if you suffered losses in Super Micro stock, you may move to be appointed lead plaintiff in the Super Micro class action​​ lawsuit.

Can the court appoint more than one lead plaintiff in the Super Micro lawsuit?

​​​​Yes, at its discretion the Court may appoint a person, entity, or group of persons and/or entities as Lead Plaintiffs in the Super Micro class action lawsuit.

How do I know if I am a member of the class in the class action against Super Micro?

​​If you purchased shares during the class period and suffered losses in Super Micro stock, then you are most likely a member of the class in the Super Micro class action lawsuit and may participate in the Super Micro class action lawsuit since you suffered losses in Lifecore Biomedical stock.

Can I serve as lead plaintiff in the Super Micro class action lawsuit if I sold my shares?

​​Yes. There is no requirement for you to retain ownership of the stock after the class period has expired to participate in the Super Micro ​lawsuit.

Resources for Investors in the Super Micro Class Action Lawsuit and OthersAdd Text

• Seeking Alpha
• A Wealth of Common Sense
• Better Investing
• U. S. Securities & Exchange Commission
• Investor.gov
• Yahoo Finance
• Investopedia

CONTACT Super Micro STOCK LOSS LAWYER TODAY TIMOTHY L. MILES TODAY ABOUT A Super Micro CLASS ACTION LAWSUIT

​If you suffered losses in Super Micro ​stock, contact Super Micro stock loss lawyer Timothy L. Miles today for a free case evaluation about a Super Micro class action lawsuit. Call today and see what a Super Microstock loss lawyer could do for you if you suffered losses in Super Micro​ stock. ​This will most likely be the only call you need to make. (855) 846–6529 or [email protected]. ​

SUPER MICRO​ CLASS ACTION LAWSUIT
SUPER MICRO STOCK LOSS LAWYER
TIMOTHY L. MILES
300 CENTERVIEW DR, UNIT 247
BRENTWOOD, TN 27027
​855-846-6528

FREE CASE EVALUATION: CLASS ACTION AGAINST SUPER MICRO
If you suffered losses in Super Micro stock, call Super Micro stock loss lawyer
Timothy L. Miles today for a free case evaluation about a Super Micro ​class action lawsuit. 
​855-846-6528​