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Hagens Berman Files Class Action Against Super Micro Computer

On May 23, 2026, Hagens Berman Sobol Shapiro LLP announced the filing of a new class action lawsuit against Super Micro Computer, Inc. and several of its top executives, asserting serious claims of securities fraud in the U.S. District Court for the Northern District of California. Investors may remember that this comes as part of ongoing scrutiny regarding the company's activities.

Allegations of Securities Fraud

The lawsuit, titled Chung v. Super Micro Computer, Inc., No. 526-cv-04394 (N.D. Cal.), focuses on a deeply concerning issue. According to the complaint, Super Micro allegedly concealed a massive scheme involving the sale of advanced AI servers—integrated with Nvidia chips that were subject to U.S. export controls. The sales, purportedly routed through a Southeast Asian entity, were in direct violation of these laws.

Hagens Berman has urged investors impacted by these claims to come forward and participate in the class action, which covers those who acquired Super Micro common stock between February 2, 2024, and March 19, 2026. The firm emphasizes that individuals can seek to be named as Lead Plaintiff until the deadline of May 26, 2026.

Background

The crux of the allegations points to how Super Micro and its executives allegedly provided false reassurances regarding compliance with U.S. export restrictions. The complaint describes a two-phase deceptive strategy: initially reassuring investors about compliance and later providing only fragmented details after the company faced increasing scrutiny, including a resignation of their auditor, Ernst & Young, and the initiation of an internal investigation.

The pivotal moment occurred on March 19, 2026, when a federal court brought to light a Department of Justice Grand Jury Indictment. It charged Super Micro’s co-founder and senior vice president Yih-Shyan “Wally” Liaw, as well as others, for conspiring to divert high-performance servers to China, a scheme that reportedly generated around $2.5 billion in sales.

Consequences of Inaction

The impact on Super Micro's stock price was immediate and severe, with shares plummeting by over 33% ($10.26) the day following the indictment's announcement. Unlike previous related actions against Super Micro, the new lawsuit identifies prior partial disclosures that also led to stock price declines, bolstering the case for the recovery of losses by investors.

On August 28, 2024, Super Micro publicly disclosed a delay in filing its annual report, attributing the hold-up to an internal investigation regarding compliance with U.S. export laws, leading to a 19% drop in stock value. Furthermore, the resignation of Ernst & Young on October 30, 2024, which stemmed from their inability to trust the company's management representations, saw the stock price fall by an additional 32.6%.

Broader Implications and Moving Forward

The complaint details how misleading information led investors to face significant losses, as they were not informed of the full extent of the illegal activities that were happening within the company. This allowed the stock to remain artificially inflated until the revelations from the indictment.

Hagens Berman is deeply committed to supporting investors who have suffered losses during this tumultuous period. The firm has encouraged individuals holding Super Micro common stock during the specified class period to contact them to explore their options.

About Hagens Berman

Hagens Berman is recognized for its advocacy in corporate accountability through comprehensive litigation strategies and class-action lawsuits. The firm specializes in securities litigation, advocating for investors who have faced losses due to corporate misconduct. With a strong track record, they continue to push for justice on behalf of affected parties.

As news unfolds surrounding this case, Hagens Berman is a key partner for investors seeking to recover losses and make their voices heard in the legal process. Interested parties are encouraged to stay updated via Hagens Berman’s official channels, where they can find more information and resources pertaining to the Super Micro case.

For further inquiries or to learn more about the ongoing investigation, please visit Hagens Berman’s website.