SMCI Investor Alert: Super Micro Computer Securities Fraud Lawsuit - Investors With Losses May Seek to Lead the Class Action After Senior Executives Allegedly Enabled Illegal Exports: Levi & Korsinsky

Important Information Regarding Section 20(a) Individual Liability Claims

NEW YORK, May 13, 2026 /PRNewswire/ -- Levi & Korsinsky, LLP alerts investors in Super Micro Computer, Inc. (NASDAQ: SMCI) of a pending securities class action naming two senior executives as individual defendants. Class Period: April 30, 2024 through March 19, 2026. Find out if you qualify to recover losses or contact Joseph E. Levi, Esq. at [email protected] | (212) 363-7500.

Super Micro shares fell $10.26 per share, a 33.3% decline, after the DOJ unsealed an indictment revealing an alleged $2.5 billion scheme to illegally divert AI servers to China. The Court has set May 25, 2026 as the deadline to apply for lead plaintiff appointment.

The Named Individual Defendants

Charles Liang, CEO and President, co-founded Super Micro in September 1993 and served as CEO throughout the Class Period. The complaint identifies Liang as possessing the power and authority to control the contents of the Company's SEC filings, press releases, and investor presentations. According to the lawsuit, Liang signed or authorized public statements touting record AI infrastructure demand while allegedly concealing that a significant portion of revenue derived from illegal sales of restricted servers to China.

David Weigand served as CFO at all relevant times. The action contends Weigand bore direct responsibility for the Company's financial reporting and internal controls, including controls designed to ensure compliance with U.S. export regulations.

Section 20(a) Control Person Framework

Section 20(a) of the Securities Exchange Act of 1934 imposes joint and several liability on individuals who "control" a company that has violated Section 10(b). The complaint asserts that both Liang and Weigand:

• Had the power to control the contents of SEC filings, press releases, and analyst presentations
• Were provided with copies of the Company's reports and press releases prior to issuance
• Had the ability and opportunity to prevent misleading statements or cause corrections
• Possessed access to material non-public information regarding the illegal export scheme
• Knew that adverse facts had not been disclosed to the investing public
• Signed SOX certifications attesting to the adequacy of internal controls

Sarbanes-Oxley Certification Obligations

Under Sections 302 and 906 of the Sarbanes-Oxley Act, both Liang and Weigand personally certified that Super Micro's SEC filings did not contain untrue statements of material fact and that the Company maintained effective internal controls over financial reporting. The lawsuit asserts these certifications were materially false given the alleged $2.5 billion illegal diversion of restricted AI servers, which involved the Company's own co-founder, a general manager in its Taiwan office, and a third-party broker.

"Corporate officers have a duty to ensure their companies' public statements are accurate and complete. When executives certify SEC filings, they accept personal responsibility for the truthfulness of those disclosures, including the adequacy of export compliance controls." -- Joseph E. Levi, Esq.

Speak with an attorney about recovering damages or call (212) 363-7500.

Scienter Allegations

The complaint alleges that the Individual Defendants knew or recklessly disregarded that the Company's revenue growth was fueled in significant part by server sales that violated U.S. export control laws. The indicted co-founder, Yih-Shyan Liaw, served as Senior Vice President of Business Development, and a general manager in the Taiwan office was also charged, suggesting the alleged scheme operated at senior management levels with direct ties to the Company's leadership.

Frequently Asked Questions About the SMCI Lawsuit

Q: Who are the defendants named in the SMCI lawsuit? A: The complaint names Super Micro Computer, Inc. and individual defendants including CEO Charles Liang and CFO David Weigand, who signed SEC filings and certified financial disclosures under Sarbanes-Oxley.

Q: What is the SMCI class action lawsuit about? A: A securities class action has been filed against Super Micro Computer alleging materially false and misleading statements between April 30, 2024 and March 19, 2026. Shares fell approximately 33.3% after the DOJ revealed an alleged $2.5 billion illegal export scheme, causing significant losses for shareholders.

Q: What do SMCI investors need to do right now? A: Gather brokerage records including purchase dates, share quantities, and prices paid. Contact Levi & Korsinsky for a free, no-obligation evaluation at [email protected] or (212) 363-7500. No immediate action is required to remain eligible as a class member.

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: How do I know if I lost enough money to be the lead plaintiff? A: There is no minimum loss threshold. Courts appoint the investor with the largest provable loss who is willing and able to represent the class adequately. Contact Levi & Korsinsky before May 25, 2026 to evaluate.

Q: What if I missed the lead plaintiff deadline? A: The deadline applies only to investors seeking lead plaintiff appointment. Class members who miss it can still participate in any settlement or recovery.

WHY LEVI & KORSINSKY -- Ranked in ISS Securities Class Action Services' Top 50 Report for seven consecutive years, Levi & Korsinsky, LLP is a nationally recognized leader in shareholder rights litigation. With a team of over 70 professionals, the firm has recovered hundreds of millions of dollars for investors.

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