Hagens Berman Files New Securities Class Action Against Super Micro Computer (SMCI) And Its Senior Executives: New Complaint Alleges Additional Corrective Disclosures; Lead Plaintiff Filing Deadline Remains May 26, 2026
View original at globenewswire.comHagens Berman Files New Securities Class Action Against Super Micro Computer (SMCI) And Its Senior Executives: New Complaint Alleges Additional Corrective Disclosures; Lead Plaintiff Filing Deadline Remains May 26, 2026 SAN FRANCISCO, May 19, 2026 (GLOBE NEWSWIRE) -- Hagens Berman announces that the firm has filed a ne…
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Defendants carried out a two-phase campaign of deception: first by making public assurances of compliance with U.S. export restrictions, and second by providing only partial corrective information after the Company missed SEC filing deadlines, EY resigned, and the Special Committee investigation was opened, while continuing to conceal the underlying export fraud
60% confidenceSuper Micro co-founder and SVP Yih-Shyan 'Wally' Liaw and others conspired to divert high-performance servers to China, generating at least approximately $2.5 billion in sales, involving staging of 'dummy' servers, fabrication of data center lease agreements, and active obstruction of internal compliance audits
60% confidenceSuper Micro's stock continued to trade at artificially inflated prices until the full scope of the fraud was revealed by the Indictment, because neither the August 28 nor October 30, 2024 disclosures revealed the underlying illegal diversion of servers to China
60% confidenceAt or around the time EY resigned in October 2024, Liaw and another Super Micro senior employee were actively undermining the Company's compliance audit of Company-1 by preventing auditors from entering facilities, arranging for a 'friendly' auditor, and fabricating lease agreements to create a false appearance of sufficient data center capacity
60% confidenceSuper Micro and certain senior officers violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 by making false and misleading statements and concealing an illegal scheme to sell billions of dollars' worth of servers embedded with Nvidia AI chips to China through a Southeast Asian passthrough entity
60% confidenceErnst & Young's resignation was due in part to its concern over at least eleven specific export transactions and the Special Committee's inquiry expressly concerned whether Super Micro complied with relevant U.S. export laws and regulations
60% confidenceSuper Micro and certain of its senior executives concealed a massive illegal scheme to sell billions of dollars' worth of advanced AI servers—powered by Nvidia chips subject to U.S. export restrictions—to the People's Republic of China through a Southeast Asian shell entity
60% confidence