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Levi & Korsinsky announces it has commenced an investigation of Super Micro Computer, Inc. (“Super Micro Computer” or “the Company”) (OTCMKTS: SMCI) concerning possible violations of federal securities laws.
On October 4, 2018, Bloomberg Businessweek published a news investigation chronicling a Chinese hack on government networks and major American technology companies. According to the investigation, the hacks stemmed from microchips added to hardware manufactured in China and sold by Super Micro in the United States: “The chips had been inserted during the manufacturing process, [officials say], by operatives from a unit of the People’s Liberation Army. In Super Micro, China’s spies appear to have found a perfect conduit for what U.S. officials now describe as the most significant supply chain attack known to have been carried out against American companies.” Following this news, shares of Super Micro fell from a close of $21.40 on October 3, 2018, to a close of $12.60 per share on October 4, 2018.