NEW YORK–(BUSINESS WIRE)–The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed on behalf of investors who acquired Super Micro Computer, Inc. (“Super Micro” or the “Company”) (NASDAQ:SMCI) securities during the period of April 30, 2024 through March 19, 2026, inclusive (“the Class Period”).
If you suffered a loss on Super Micro investments, you have until May 25, 2026 to request lead plaintiff appointment. Courts do not consider lead plaintiff applications submitted after this deadline. If you choose to take no action, you may remain an absent class member. For more information about the lawsuit:
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What Is This Lawsuit About? The lawsuit alleges 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; and (3) there were material weaknesses in the Company’s controls to ensure compliance with applicable export control laws and regulations.
On March 19, 2026, the U.S. Justice Department unsealed an indictment charging several individuals, including a Super Micro co-founder and board member, a sales manager, and a contractor, of “conspir[ing] to divert billions of dollars” of servers illegally to China in violation of export controls. The indictment stated this resulted in “at least approximately $2.5 billion worth of sales” since 2024. The indictment revealed that “between late April 2025 and mid-May 2025 alone, over approximately $510 million worth of. . .servers assembled in the United States with Nvidia GPUs-and subject to U.S. export controls-were sold. . .and then diverted to China.” On the same date, Super Micro release a statement, noting that the Company wasn’t named as a defendant but confirming that the individuals charged were a “Senior Vice President of Business Development and a member of the Company’s Board of Directors,” “a sales manager,” and “a contractor.” On this news, the price of Super Micro shares declined by $10.26 per share, or approximately 33.3%, from $30.79 per share on March 19, 2026 to close at $20.53 on March 20, 2026.
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The Lead Plaintiff Appointment Process. The federal securities laws permit any investor who acquired eligible securities during the class period to seek appointment as lead plaintiff in a class action lawsuit. Courts typically appoint the investor(s) with the largest financial loss in the case and the ability to represent the class rather than investors with simply the largest investment portfolio. Courts regularly appoint individual investors, whether acting alone or as a group, as lead plaintiffs. The rights of any investor who bought shares during the class period are generally already protected. However, lead plaintiffs have the power to influence case strategy and have a say in settlement decisions, as well as decisions concerning allocation of settlement funds among class members.
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What Should I Do? If you purchased or otherwise acquired Super Micro securities, have information, or would like to learn more about this investigation, please contact Lauren Molinaro of Kirby McInerney LLP by email at [email protected], or fill out the contact form below, to discuss your rights or interests with respect to these matters at no cost.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Kirby McInerney LLP
Lauren Molinaro, Esq.
212-699-1171
https://www.kmllp.com
https://securitiesleadplaintiff.com/
[email protected]
