{"id":416098,"date":"2021-01-15T22:53:39","date_gmt":"2021-01-16T03:53:39","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=416098"},"modified":"2021-01-15T22:53:39","modified_gmt":"2021-01-16T03:53:39","slug":"super-micro-investigation-continues-by-former-louisiana-attorney-general-kahn-swick-foti-llc-continues-to-investigate-the-officers-and-directors-of-super-micro-computer-inc-smci","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/super-micro-investigation-continues-by-former-louisiana-attorney-general-kahn-swick-foti-llc-continues-to-investigate-the-officers-and-directors-of-super-micro-computer-inc-smci\/","title":{"rendered":"SUPER MICRO INVESTIGATION CONTINUES by Former Louisiana Attorney General: Kahn Swick &amp; Foti, LLC Continues to Investigate the Officers and Directors of Super Micro Computer, Inc. &#8211; SMCI"},"content":{"rendered":"<p>        <!--body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p>\nSUPER MICRO INVESTIGATION CONTINUES by Former Louisiana Attorney General: Kahn Swick &amp; Foti, LLC Continues to Investigate the Officers and Directors of Super Micro Computer, Inc. &#8211; SMCI\n<\/p>\n<p>NEW ORLEANS&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nFormer Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick &amp; Foti, LLC (\u201cKSF\u201d), announces that KSF continues its investigation into Super Micro Computer, Inc. (NasdaqGS: SMCI).\n<\/p>\n<p>\nOn October 26, 2017, the Company disclosed an investigation into revenue recorded in 2Q 2017 (ended 12\/31\/2016), extending a prior delay for filing its 2017 10-K. Then, on August 22, 2018, the Company disclosed that its stock was being delisted for its ongoing failure to file its 2017 10-K and 10-Q reports. Then, on November 15, 2018, the Company disclosed that its financial statements for each of the quarterly and annual periods during FY15, FY16 and the first three quarters of FY17 should no longer be relied upon because of errors \u201cprimarily related to the timing of recognition of revenue and classification of certain inventory.\u201d Then, on May 17, 2019, the Company filed restated financial results for FY15-FY17, also describing material weaknesses in internal controls, including \u201ca culture of aggressively focusing on quarterly revenue without sufficient focus on compliance,\u201d among other things.\n<\/p>\n<p>\nOn August 25, 2020, the SEC issued cease and desist orders against the Company and certain executives for violations of federal securities laws, including \u201cantifraud, reporting, books and records, and internal accounting controls provisions,\u201d and fined the Company $17.5 million.\n<\/p>\n<p>\nThe Company has also been sued in a securities class action lawsuit for failing to disclose material information to investors, violating federal securities laws, which is ongoing.\n<\/p>\n<p>\nKSF\u2019s investigation is focusing on whether Super Micro\u2019s officers and\/or directors breached their fiduciary duties to Super Micro\u2019s shareholders or otherwise violated state or federal laws.\n<\/p>\n<p>\nIf you have information that would assist KSF in its investigation, or have been a long-term holder of Super Micro shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (<a rel=\"nofollow\" href=\"mailto:lewis.kahn@ksfcounsel.com\">lewis.kahn@ksfcounsel.com<\/a>), or visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fksfcounsel.com%2Fcases%2Fnasdaqgs-smci%2F&amp;esheet=52363015&amp;newsitemid=20210115005591&amp;lan=en-US&amp;anchor=http%3A%2F%2Fksfcounsel.com%2Fcases%2Fnasdaqgs-smci%2F&amp;index=1&amp;md5=62a0b502a445d96b824229a9543b045a\">http:\/\/ksfcounsel.com\/cases\/nasdaqgs-smci\/<\/a> to learn more.\n<\/p>\n<p>\nAbout Kahn Swick &amp; Foti, LLC\n<\/p>\n<p>\nKSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger &amp; acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.\n<\/p>\n<p>\nTo learn more about KSF, you may visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.ksfcounsel.com&amp;esheet=52363015&amp;newsitemid=20210115005591&amp;lan=en-US&amp;anchor=www.ksfcounsel.com&amp;index=2&amp;md5=1b9f7af5df803150519311b9ba60e0ed\">www.ksfcounsel.com<\/a>.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210115005591r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20210115005591\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20210115005591\/en\/<\/a><\/span><\/p>\n<p>\nKahn Swick &amp; Foti, LLC<br \/>\n<br \/>Lewis Kahn, Managing Partner<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:lewis.kahn@ksfcounsel.com\">lewis.kahn@ksfcounsel.com<br \/>\n<\/a><br \/>1-877-515-1850\n<\/p>\n<p><b>KEYWORDS:<\/b> Louisiana United States North America<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Legal Professional Services<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20210115005591\/en\/752156\/3\/logo-square-pr.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>SUPER MICRO INVESTIGATION CONTINUES by Former Louisiana Attorney General: Kahn Swick &amp; Foti, LLC Continues to Investigate the Officers and Directors of Super Micro Computer, Inc. &#8211; SMCI NEW ORLEANS&#8211;(BUSINESS WIRE)&#8211; Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick &amp; Foti, LLC (\u201cKSF\u201d), announces that KSF continues its investigation into Super Micro Computer, Inc. (NasdaqGS: SMCI). On October 26, 2017, the Company disclosed an investigation into revenue recorded in 2Q 2017 (ended 12\/31\/2016), extending a prior delay for filing its 2017 10-K. Then, on August 22, 2018, the Company disclosed that its stock was being delisted for its ongoing failure to file its 2017 10-K and 10-Q reports. Then, &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/super-micro-investigation-continues-by-former-louisiana-attorney-general-kahn-swick-foti-llc-continues-to-investigate-the-officers-and-directors-of-super-micro-computer-inc-smci\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;SUPER MICRO INVESTIGATION CONTINUES by Former Louisiana Attorney General: Kahn Swick &amp; Foti, LLC Continues to Investigate the Officers and Directors of Super Micro Computer, Inc. &#8211; SMCI&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-416098","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SUPER MICRO INVESTIGATION CONTINUES by Former Louisiana Attorney General: Kahn Swick &amp; Foti, LLC Continues to Investigate the Officers and Directors of Super Micro Computer, Inc. - SMCI - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/super-micro-investigation-continues-by-former-louisiana-attorney-general-kahn-swick-foti-llc-continues-to-investigate-the-officers-and-directors-of-super-micro-computer-inc-smci\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SUPER MICRO INVESTIGATION CONTINUES by Former Louisiana Attorney General: Kahn Swick &amp; Foti, LLC Continues to Investigate the Officers and Directors of Super Micro Computer, Inc. - SMCI - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"SUPER MICRO INVESTIGATION CONTINUES by Former Louisiana Attorney General: Kahn Swick &amp; Foti, LLC Continues to Investigate the Officers and Directors of Super Micro Computer, Inc. &#8211; SMCI NEW ORLEANS&#8211;(BUSINESS WIRE)&#8211; Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick &amp; Foti, LLC (\u201cKSF\u201d), announces that KSF continues its investigation into Super Micro Computer, Inc. (NasdaqGS: SMCI). On October 26, 2017, the Company disclosed an investigation into revenue recorded in 2Q 2017 (ended 12\/31\/2016), extending a prior delay for filing its 2017 10-K. Then, on August 22, 2018, the Company disclosed that its stock was being delisted for its ongoing failure to file its 2017 10-K and 10-Q reports. Then, &hellip; Continue reading &quot;SUPER MICRO INVESTIGATION CONTINUES by Former Louisiana Attorney General: Kahn Swick &amp; Foti, LLC Continues to Investigate the Officers and Directors of Super Micro Computer, Inc. &#8211; SMCI&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/super-micro-investigation-continues-by-former-louisiana-attorney-general-kahn-swick-foti-llc-continues-to-investigate-the-officers-and-directors-of-super-micro-computer-inc-smci\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-16T03:53:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210115005591r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/super-micro-investigation-continues-by-former-louisiana-attorney-general-kahn-swick-foti-llc-continues-to-investigate-the-officers-and-directors-of-super-micro-computer-inc-smci\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/super-micro-investigation-continues-by-former-louisiana-attorney-general-kahn-swick-foti-llc-continues-to-investigate-the-officers-and-directors-of-super-micro-computer-inc-smci\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"SUPER MICRO INVESTIGATION CONTINUES by Former Louisiana Attorney General: Kahn Swick &amp; 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Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick &amp; Foti, LLC (\u201cKSF\u201d), announces that KSF continues its investigation into Super Micro Computer, Inc. (NasdaqGS: SMCI). On October 26, 2017, the Company disclosed an investigation into revenue recorded in 2Q 2017 (ended 12\/31\/2016), extending a prior delay for filing its 2017 10-K. Then, on August 22, 2018, the Company disclosed that its stock was being delisted for its ongoing failure to file its 2017 10-K and 10-Q reports. 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