The Shareholders Foundation announces that an investigation on behalf of current long-term investors in shares of Super Micro Computer, Inc. (NASDAQ:SMCI) shares was launched over potential breaches of fiduciary duties by certain officers and directors at Super Micro Computer, Inc.
Investors who purchased shares of Super Micro Computer, Inc. (NASDAQ:SMCI) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain Super Micro Computer officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.
Super Micro Computer, Inc. reported that its Total Revenue rose from over $1.16 billion for the 12 months period that ended on June 30, 20143 to over $1.46 billion for the 12 months period that ended on June 30, 2014 and that its respective Net Income increased from $21.28 million to $54.16 million.
Shares of Super Micro Computer, Inc. (NASDAQ:SMCI) grew from $8.10 per share in November 2012 to as high as $41.13 per share in late February 2015.
On April 27, 2015, Super Micro Computer, Inc. announced its third quarter 2015 financial results. Among other things, Super Micro Computer, Inc. reported that its third quarter net sales are down 6.3% from the second quarter of fiscal year 2015 and that its GAAP net income for the third quarter is down down 26.2% from the second quarter of fiscal year 2015. Super Micro Computer, Inc. also issued its business outlook and said that it expects net sales of $510 million to $560 million for the fourth quarter of fiscal year 2015 ending June 30, 2015. NASDAQ:SMCI shares declined to as low as $28.34 per share on April 30, 2015.
On May 15, 2015, Super Micro Computer, Inc. (NASDAQ:SMCI) closed at $33.09 per share.
Those who purchased shares of Super Micro Computer, Inc. (NASDAQ:SMCI), have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com