SMCI Investor Alert: Super Micro Computer Securities Fraud Lawsuit - Investors With Losses May Seek to Lead the Class Action After Allegedly Misrepresenting Revenue Derived from Sales Potentially Violating U.S. Export Controls: Levi & Korsinsky

Promise vs. Reality: The Super Micro Computer Performance Gap

NEW YORK, May 04, 2026 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP reminds purchasers of Super Micro Computer, Inc. (NASDAQ: SMCI) securities of a pending securities class action. THE CASE: A class action seeks to recover damages for investors who purchased SMCI securities between April 30, 2024 and March 19, 2026. YOUR OPTIONS: You may be entitled to compensation without payment of any out-of-pocket fees. Find out if you qualify to recover your per-share losses or contact Joseph E. Levi, Esq. at jlevi@levikorsinsky.com or (212) 363-7500.

Super Micro projected "at least $33 billion" in fiscal year 2026 revenue. Its co-founder was indicted for conspiring to divert $2.5 billion in restricted AI servers to China. Shareholders lost $10.26 per share overnight.

SMCI shares plunged 33.3%, falling $10.26 to close at $20.53 on March 20, 2026, after the U.S. Department of Justice unsealed an indictment alleging a conspiracy to illegally export restricted AI servers to China. The last day to move for lead plaintiff is May 25, 2026.

The Promise

Super Micro told investors a compelling growth story throughout 2024 and 2025. Management attributed record demand to legitimate AI infrastructure adoption:

• April 30, 2024: Management raised the fiscal year 2024 revenue outlook from $14.3-$14.7 billion to $14.7-$15.1 billion, citing "strong demand for AI rack scale PnP solutions"
• August 6, 2024: The Company reported fiscal 2024 revenue of $14.9 billion, up 110% year over year, describing "record demand of new AI infrastructures"
• October 23, 2025: Management reiterated revenue guidance of "at least $33B for FY 2026 with the expectation of delivering more"
• November 4, 2025: The Company disclosed "more than $13B in Blackwell Ultra orders" and raised its fiscal 2026 revenue target to "at least $36 billion"

The Reality

On March 19, 2026, the DOJ unsealed an indictment charging three individuals associated with Super Micro with conspiring to divert approximately $2.5 billion worth of servers containing advanced Nvidia GPUs to customers in China without required export licenses. The indicted individuals included the Company's co-founder and Senior Vice President of Business Development, a general manager in Super Micro's Taiwan office, and a third-party broker.

The Numbers: Promised vs. Actual

The complaint contends the gap between what investors were told and what was actually occurring was enormous:

• Revenue Attribution: Management said growth came from legitimate "large enterprise and datacenter customers." The DOJ alleges $2.5 billion in sales over 2024-2025 were illegal diversions to China
• Compliance Posture: SEC filings claimed Super Micro had "policies, internal controls and other measures reasonably designed to promote compliance." The indictment alleges a systematic conspiracy involving a co-founder, a Taiwan-based general manager, and a third-party fixer
• FY2024 Revenue Context: Reported net sales were $14.94 billion. The alleged illegal sales represented a material portion of the Company's total revenue during this period
• Gross Margin Pressure: The Company reported declining gross margins from 15.5% in Q3 2024 to 9.3% in Q1 2026, yet continued projecting aggressive revenue targets without disclosing export compliance exposure

What the Lawsuit Alleges About the Gap

The action claims Super Micro failed to disclose that a significant portion of server sales went to Chinese customers in violation of U.S. export controls, that material weaknesses existed in the Company's compliance framework, and that management's positive statements about legitimate demand drivers lacked a reasonable basis.

"Companies that make specific promises to investors about future performance have an obligation to disclose known risks to those projections. The contrast between Super Micro's repeated revenue guidance increases and the alleged $2.5 billion in unlawful sales raises fundamental questions about the accuracy of information provided to shareholders." -- Joseph E. Levi, Esq.

Join the SMCI recovery action or call (212) 363-7500.

About Levi & Korsinsky, LLP

Over the past 20 years, Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders. The firm has extensive expertise in complex securities litigation and a team of over 70 employees. For seven consecutive years, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report.

Frequently Asked Questions About the SMCI Lawsuit

Q: When did Super Micro allegedly mislead investors? A: The class period runs from April 30, 2024 to March 19, 2026. The alleged fraud was revealed through the DOJ's unsealing of an indictment on March 19, 2026, causing a 33.3% stock decline.

Q: How much did SMCI stock drop? A: Shares fell approximately 33.3%, a decline of $10.26 per share, after the DOJ announced criminal charges related to the alleged illegal diversion of $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 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 jlevi@levikorsinsky.com or (212) 363-7500. No immediate action is required to remain eligible as a class member.

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: Do I need to go to court or give testimony? A: No. The overwhelming majority of class members never appear in court or give depositions. You submit a claim form to receive your portion of recovery.

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 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.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171

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