A securities class action has been filed against Super Micro Computer, Inc. (SMCI) on behalf of persons and entities that purchased or otherwise acquired Super Micro securities between April 30, 2024 through March 19, 2026. This case has been filed in the USDC – NDCA.
Super Micro develops and manufactures high performance server and storage solutions. On March 19, 2026, Super Micro announced that it “was informed today that the United States Attorney’s Office for the Southern District of New York has unsealed an indictment of three individuals associated with the Company in connection with an alleged conspiracy to commit export-control violations.” On this news, the price of Super Micro stock fell more than 33%.
The complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) a significant portion of the Company’s sales of servers were to companies based in China; (2) these transactions violated U.S. export control laws; (3) there were material weaknesses in the Company’s controls to ensure compliance with applicable export control laws and regulations; and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.