SMCI Investor Alert: Super Micro Computer Securities Fraud Lawsuit - Investors With Losses May Seek to Lead the Class Action After Allegedly Concealing Illegal Export Sales: Levi & Korsinsky

Notice to Pension Funds, Asset Managers, and Fiduciaries

NEW YORK, April 1, 2026 /PRNewswire/ -- Institutional investors holding positions in Super Micro Computer, Inc. (NASDAQ: SMCI) during the period from April 30, 2024 through March 19, 2026 may wish to evaluate lead plaintiff opportunities in a pending securities class action. Request an institutional investor loss assessment. You may also contact Joseph E. Levi, Esq. at [email protected] or (212) 363-7500.

SMCI shares fell $10.26 per share, a decline of 33.3%, after the U.S. Justice Department unsealed an indictment alleging a conspiracy to divert approximately $2.5 billion worth of restricted AI servers to China. Those wishing to serve as lead plaintiff must act by May 25, 2026.

Fiduciary Obligations and Recovery Options

Pension fund trustees, endowment managers, and other institutional fiduciaries with SMCI holdings during the Class Period face a duty to evaluate whether pursuing recovery serves beneficiaries. The securities action asserts that Super Micro and certain officers made materially misleading statements about the sources of the Company's revenue growth while concealing that a significant portion of server sales allegedly violated U.S. export control laws.

Key fiduciary considerations include:

• Institutions that held SMCI shares purchased between April 30, 2024 and March 19, 2026 may be eligible to seek lead plaintiff appointment, which provides direct oversight of litigation strategy and settlement terms
• The Company reported net sales of $14.94 billion for fiscal year 2024 and $22.0 billion for fiscal year 2025, a period during which the alleged illegal diversion scheme was allegedly generating billions in revenue
• Lead plaintiff appointment carries no additional financial obligation; securities class actions are pursued on a contingency basis with no out-of-pocket costs to class members
• Fiduciaries who fail to evaluate available legal remedies may face questions from beneficiaries regarding their stewardship of portfolio assets
• Institutional investors with the largest documented losses are typically best positioned for lead plaintiff selection under the PSLRA framework

Contact us for institutional recovery options or call (212) 363-7500.

Portfolio Impact Assessment

The corrective disclosure on March 19, 2026 revealed that three individuals associated with Super Micro, including the Company's co-founder and Senior Vice President of Business Development, were indicted for conspiring to systematically ship servers containing advanced Nvidia GPUs to customers in China without required Department of Commerce licenses. The lawsuit contends that during the Class Period, management attributed the Company's sales growth to legitimate demand drivers such as "GPU servers, HPC, and rack-scale solutions" while allegedly concealing that a material portion of revenue derived from illegal transactions.

"Institutional investors play a critical role in securities class actions. Their participation ensures robust representation of the class and meaningful oversight of the recovery process on behalf of all shareholders who suffered losses." -- Joseph E. Levi, Esq.

Case Summary

The action alleges violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and SEC Rule 10b-5, claiming that Super Micro failed to disclose material weaknesses in its export compliance controls and misrepresented the true drivers of its revenue growth throughout the Class Period.

INSTITUTIONAL INVESTOR REPRESENTATION -- Levi & Korsinsky, LLP provides sophisticated counsel to institutional investors evaluating lead plaintiff opportunities. The firm has recovered hundreds of millions of dollars. Ranked among ISS Top 50 for seven consecutive years.

Frequently Asked Questions About the SMCI Lawsuit

Q: Who is eligible to join the SMCI investor lawsuit? A: Investors who purchased SMCI stock or securities between April 30, 2024 and March 19, 2026 and suffered financial losses may be eligible. Eligibility is based on purchase date and documented losses, not on whether you still hold the shares.

Q: How much did SMCI stock drop? A: Shares fell approximately 33.3%, a decline of $10.26 per share, after the U.S. Justice Department announced the unsealing of an indictment alleging a conspiracy to divert approximately $2.5 billion worth of restricted AI servers to China. Investors who purchased shares during the Class Period at artificially inflated prices may be entitled to compensation.

Q: What is a lead plaintiff and why does it matter? A: A lead plaintiff is the investor appointed by the court to represent the entire class. Lead plaintiffs are typically investors with the largest documented losses. Being appointed does not increase individual recovery but gives direct oversight of how the case is run.

Q: What documents do I need to make a claim? A: Brokerage statements or trade confirmations showing purchase dates, share quantities, prices paid, and any subsequent sale dates and prices.

Q: What does it cost me to participate? A: Nothing. Securities class actions are handled on a pure contingency basis. No upfront fees, no retainer, no out-of-pocket costs.

Q: What if I already sold my SMCI shares -- can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold them. Investors who bought during the Class Period and sold at a loss may still participate.

Q: Can I join a different law firm's lawsuit instead? A: Multiple firms often file competing complaints. The court consolidates and appoints a single lead counsel. Contacting Levi & Korsinsky before May 25, 2026 ensures your losses are considered.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171

SOURCE Levi & Korsinsky, LLP