Super Micro Computer
Settlement of Hessefort v. Super Micro Computer, Inc., et al.
The parties have reached a settlement of this action, pending in the United States District Court for the Northern District of California, Oakland Division. The settlement provides for the payment of $18,250,000 for the benefit of eligible Class Members. Lead Plaintiff New York Hotel Trades Council & Hotel Association of New York City, Inc. Pension Fund alleged violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934, and alleged that during the period from August 5, 2016 through January 30, 2018, inclusive, Defendants Super Micro Computer, Inc. (“Super Micro”), Charles Liang, Howard Hideshima, and Yih-Shyan (Wally) Liaw made materially false and misleading statements about Super Micro’s business performance and conditions and that Defendants misled investors regarding Super Micro’s business and financial results.
The Class consists of all Persons that purchased or acquired Super Micro common stock between August 5, 2016 and January 30, 2018, inclusive. Excluded from the Class are: (i) Defendants; (ii) members of the immediate families of the Individual Defendants; (iii) Super Micro’s subsidiaries; (iv) the officers and directors of Super Micro during the Class Period; (v) any entity in which any Defendant has a controlling interest; and (vi) the legal representatives, heirs, successors and assigns of any such excluded person or entity. Also excluded from the Class is any Person who timely and validly requested exclusion from the Class.
The settlement was approved by the Court on May 5, 2023.
If you have any questions about the settlement or the litigation, please contact the Shareholder Relations Department at 1-800-449-4900.
- Stipulation of Settlement
- Order Granting Lead Plaintiff’s Motion for Final Approval of Settlement and Plan of Allocation and Granting Lead Counsel’s Motion for Attorney’s Fees and Expenses