Moore Law PLLC is investigating potential claims against Super Micro Computer, Inc. The investigation follows a series of events beginning on August 6, 2024, when the company revealed a significant decline in gross margin due to increased production costs, causing its stock to drop over 20% from $616.94 to $492.70 per share. On August 27, 2024, Hindenburg Research published a report alleging accounting red flags, undisclosed related party transactions, and a fraudulent revenue recognition scheme, leading to a roughly 3% stock decline. The next day, Super Micro announced it would not timely file its annual report, resulting in a more than 19% stock drop from $547.64 to $443.49 per share. Finally, on September 26, 2024, The Wall Street Journal reported a Department of Justice investigation, causing the stock to fall more than 12% from $458.15 to $402.40 per share.
Super Micro Computer IncDOJ investigation, Hindenburg allegations of accounting fraud, and failure to file annual report