According to the law firm press release, Super Micro Computer, Inc. designs, develops, manufactures and sells server solutions based on modular and open-standard architecture. The Company's products include servers, motherboards, chassis, and accessories.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Super Micro’s financial statements contained accounting errors, including errors with respect to one of the Company’s sales transactions; (ii) as such, the Company’s internal controls were not effective; (iii) Super Micro lacked the capability to timely review and assess the impact of the foregoing issues; and (iv) as a result, Super Micro’s public statements were materially false and misleading at all relevant times.

On May 25, 2018, the Court issued an Order consolidating cases and appointing Lead Plaintiff and Counsel. All future docketing was ordered to be done in the lead case 18-CV-00838.

Lead Plaintiff filed a consolidated Complaint on September 24. On January 22, 2019, Lead Plaintiff filed an amended consolidated Complaint. Lead Plaintiff filed a second amended consolidated Complaint on June 21. Defendants filed a Motion to Dismiss the amended consolidated Complaint on July 26. On March 23, 2020, the Court issued an Order granting Defendants' Motion to Dismiss. Plaintiff was given leave to amend the Complaint.

Lead Plaintiff filed a third amended consolidated Complaint on April 22. Defendants filed a Motion to Dismiss the third amended consolidated Complaint on June 5. On October 14, Lead Plaintiff filed a fourth amended consolidated Complaint. Defendants re-noticed the Motion to Dismiss on October 28. On March 29, 2021, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss. The Court denied leave to amend the Complaint.

On March 11, 2022, the parties notified the Court that they had reached an agreement in principle to settle the case. The parties entered into a Stipulation of Settlement on April 8. On November 8, the Court granted preliminary approval of the Settlement. On May 5, 2023, the Court granted final approval of the Settlement, including an award of Attorneys’ Fees and Expenses.