Super Micro Computer Inc. misled investors about its finances and compliance with trade control regulations before the server manufacturer reported declining margins and a short-seller revealed millions in sales to Russia from 2022 to 2024, according to a shareholder complaint.
The company’s stock price was artificially inflated up to $1,299 per share during the alleged period of misrepresentations, which lasted more than three years, said the proposed class action filed in the US District Court for the Northern District of California.
Super Micro allegedly misstated financial figures, including a scheme involving delivery of unfinished or defective products, which caused the ...
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