Super Micro Computer Inc. leaders misled investors with positive statements about the server maker’s financial performance before a short seller flagged potential accounting manipulation, according to the latest shareholder lawsuit filed against the company.
Super Micro CEO Charles Liang, senior vice president Sara Liu, and other leaders let the company improperly recognize revenue, circumvent internal controls designed to prevent financial reporting errors, and engage in other inappropriate business practices, investor George Keritsis said in a derivative suit filed Wednesday in the US District Court for the Northern District of California.
Keritsis cited an investigation from short seller Hindenburg Research, which ...
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