Robbins Geller Rudman & Dowd LLP Announces Proposed Settlement in the Super Micro Computer, Inc. Securities Litigation

By: Robbins Geller Rudman & Dowd LLP via Business Wire

December 05, 2022 at 08:00 AM EST

The following statement is being issued by Robbins Geller Rudman & Dowd LLP regarding the Super Micro Computer, Inc. Securities Litigation:

UNITED STATES DISTRICT COURT

NORTHERN DISTRICT OF CALIFORNIA

OAKLAND DIVISION

LOGAN HESSEFORT, Individually and on Behalf of All Others Similarly Situated,	)	Lead Case No. 4:18-cv-00838-JST
	)	CLASS ACTION
Plaintiff,	)
vs.	)	SUMMARY NOTICE
SUPER MICRO COMPUTER, INC., et al.,	)
Defendants.	)
	)
	)

IF YOU PURCHASED OR ACQUIRED SUPER MICRO COMPUTER, INC. (“SUPER MICRO”) COMMON STOCK FROM AUGUST 5, 2016 THROUGH JANUARY 30, 2018, INCLUSIVE (THE “CLASS PERIOD”), YOU COULD RECEIVE A PAYMENT FROM A CLASS ACTION SETTLEMENT. CERTAIN PERSONS ARE EXCLUDED FROM THE DEFINITION OF THE CLASS AS SET FORTH IN THE STIPULATION OF SETTLEMENT.

PLEASE READ THIS NOTICE CAREFULLY. YOUR RIGHTS MAY BE AFFECTED BY A CLASS ACTION LAWSUIT PENDING IN THIS COURT.

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and Order of the United States District Court for the Northern District of California, Oakland Division, that the above-captioned litigation (the “Litigation”) has been certified as a class action for the purposes of settlement only and that a Settlement has been proposed for $18,250,000.00 in cash. A hearing will be held on March 2, 2023, at 2:00 p.m., before the Honorable Jon S. Tigar, via Zoom at the link available at https://cand.uscourts.gov/judges/tigar-jon-s-jst/, for the purpose of determining whether: (1) the proposed Settlement should be approved by the Court as fair, reasonable and adequate; (2) the proposed Plan of Allocation for distribution of the Settlement proceeds is fair, reasonable and adequate and therefore should be approved; and (3) the application of Lead Counsel for the payment of attorneys’ fees and expenses from the Settlement Fund, including interest earned thereon, should be approved.

IF YOU ARE A MEMBER OF THE CLASS DESCRIBED ABOVE, YOUR RIGHTS MAY BE AFFECTED BY THE SETTLEMENT OF THE LITIGATION, AND YOU MAY BE ENTITLED TO SHARE IN THE SETTLEMENT FUND. If you have not received a detailed Notice of Pendency and Proposed Settlement of Class Action (the “Notice”) and a copy of the Proof of Claim, you may obtain a copy of these documents by contacting the Claims Administrator: Super Micro Securities Settlement, Claims Administrator c/o Gilardi & Co. LLC, P.O. Box 6181, Novato, CA 94948-6181; 1-888-859-1906. You may also obtain copies of the Stipulation of Settlement, Notice and Proof of Claim Form at www.SuperMicroSecuritiesSettlement.com.

If you are a Class Member, to be eligible to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim by mail postmarked no later than February 27, 2023, or submit it online by that date. If you are a Class Member and do not submit a valid Proof of Claim, you will not be eligible to share in the distribution of the Net Settlement Fund, but you will still be bound by any judgment entered by the Court in this Litigation (including the releases provided for therein).

To exclude yourself from the Class, you must mail a written request for exclusion so that it is received by February 9, 2023, in accordance with the instructions set forth in the Notice. If you are a Class Member and do not exclude yourself from the Class, you will be bound by any judgment entered by the Court in this Litigation (including the releases provided for therein) whether or not you submit a Proof of Claim. If you submit a written request for exclusion, you will have no right to recover money pursuant to the Settlement.

Any objection to the proposed Settlement, the Plan of Allocation of Settlement proceeds, or the fee and expense application must be filed with the Court no later than February 9, 2023.

PLEASE DO NOT CONTACT THE COURT, THE CLERK’S OFFICE, DEFENDANTS, OR DEFENDANTS’ COUNSEL REGARDING THIS NOTICE. If you have any questions about the Settlement, or your eligibility to participate in the Settlement, you may contact Lead Counsel at the following address or by calling 1-800-449-4900:

ROBBINS GELLER RUDMAN & DOWD LLP

ELLEN GUSIKOFF STEWART, ESQ.

655 West Broadway, Suite 1900

San Diego, CA 92101

settlementinfo@rgrdlaw.com

DATED: November 8, 2022		BY ORDER OF THE COURT
		UNITED STATES DISTRICT COURT
		NORTHERN DISTRICT OF CALIFORNIA
		OAKLAND DIVISION

View source version on businesswire.com: https://www.businesswire.com/news/home/20221205005025/en/

Contacts

Robbins Geller Rudman & Dowd LLP

Shareholder Relations Department

Greg Wood

(619) 231-1058

About Us

About Cabling Installation & Maintenance

Contact Cabling Installation & Maintenance

Editorial

Advertising and Sponsorship Sales

Subscriptions and Memberships

Feedback/Problems

Robbins Geller Rudman & Dowd LLP Announces Proposed Settlement in the Super Micro Computer, Inc. Securities Litigation

Contacts

More News