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NEW YORK, Sept. 18, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of Sage Therapeutics, Inc. (NASDAQ: SAGE), Outset Medical, Inc. (NASDAQ: OM), and Super Micro Computer, Inc. (NASDAQ: SMCI). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.
Sage Therapeutics, Inc. (NASDAQ: SAGE)
Class Period: April 12, 2021 - July 23, 2024
Lead Plaintiff Deadline: October 28, 2024
The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) zuranolone was less effective in treating MDD than Defendants had led investors to believe; (2) accordingly, the FDA was unlikely to approve the Zuranolone NDA for the treatment of MDD in its present form, and zuranolone's clinical results for MDD, as well as its overall regulatory and commercial prospects, were overstated; (3) SAGE-718 was less effective in treating MCI due to PD than Defendants had led investors to believe; (4) accordingly, SAGE-718's clinical, regulatory, and commercial prospects as a treatment for MCI due to PD were overstated; (5) SAGE-324 was less effective in treating ET than Defendants had led investors to believe; (6) accordingly, SAGE-324's clinical, regulatory, and commercial prospects as a treatment for ET were overstated; and (7) as a result of all the foregoing, the Company's public statements were materially false and misleading at all relevant times.
For more information on the Sage class action go to: https://bespc.com/cases/SAGE
Outset Medical, Inc. (NASDAQ: OM)
Class Period: August 1, 2022 - August 7, 2024
Lead Plaintiff Deadline: October 28, 2024
According to the lawsuit, during the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) the Tablo products were marketed for continuous renal replacement therapy, which is not one of the indications approved by the United States Food and Drug Administration (“FDA”); (2) as a result, Outset Medical was reasonably likely to submit an additional 510(k) application for the Tablo products; (3) there was a substantial risk that Outset Medical would cease sales of the Tablo products pending FDA approval of additional indications; (4) Outset Medical lacked the sales team and process to execute on the ramp of Tablo sales; (5) as a result of the foregoing, Outset Medical’s revenue growth would be adversely impacted; and (6) as a result of the foregoing, defendants’ positive statements about Outset Medical’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.
For more information on the Outset Medical class action go to: https://bespc.com/cases/OM
Super Micro Computer, Inc. (NASDAQ: SMCI)
Class Period: February 2, 2021 - August 26, 2024
Lead Plaintiff Deadline: October 29, 2024
According to the complaint, on August 27, 2024, Hindenburg Research unveiled a short report on SMCI. The short report detailed several allegations against the Company, including that Hindenburg “found glaring accounting red flags, evidence of undisclosed related party transactions, sanctions and control failures, and customer issues.”
Investors and analysts reacted immediately to these revelations. The price of SMCI’s common stock declined dramatically. From a closing market price of $562.51 per share on August 26, 2024, SMCI’s stock price fell to $443.49 per share on August 28, 2024, a decline of about 21.16% in the span of only two days.
For more information on the Super Micro class action go to: https://bespc.com/cases/SMCI
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.Brandon Walker, Esq. Marion Passmore, Esq.(212) 355-4648investigations@bespc.comwww.bespc.com
SAN DIEGO, CA / ACCESSWIRE / September 18, 2024 /Robbins Geller Rudman & Dowd LLP announces that the Super Micro class action lawsuit - captioned Averza v. Super Micro Computer, Inc., No. 24-cv-06147 (N.D. Cal.) - charges Super Micro Computer, Inc. (NASDAQ:SMCI) and certain of Super Micro's executives with violations of the Securities Exchange Act of 1934. Subsequently filed complaints are captioned Menditto v. Super Micro Computer, Inc., No. 24-cv-06149 (N.D. Cal.), and Spatz v. Super Micro Computer, Inc. No. 24-cv-06193 (N.D. Cal.).
If you suffered substantial losses and wish to serve as lead plaintiff of theSuper Microclass action lawsuit, please provide your information here:
https://www.rgrdlaw.com/cases-super-micro-computer-inc-class-action-lawsuit-smci.html
You can also contact attorneysJ.C. SanchezorJennifer N. Caringalof Robbins Geller by calling 800/449-4900 or via e-mail atinfo@rgrdlaw.com. Lead plaintiff motions for theSuper Microclass action lawsuit must be filed with the court no later than October 29, 2024.
CASE ALLEGATIONS: Super Micro develops and manufactures high performance server and storage solutions.
The Super Micro class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Super Micro was subject to consistent overreporting of sales and underreporting of expenses; (ii) Super Micro had re-hired multiple executives who departed in the wake of Super Micro's prior accounting scandal; (iii) Super Micro had a closer relationship to its related parties than disclosed; and (iv) Super Micro had not ceased exporting products to areas restricted by the United States government as a result of the Russia-Ukraine war, risking government sanction.
The Super Micro class action lawsuit further alleges that on August 27, 2024, Hindenburg Research unveiled a research report entitled "Super Micro: Fresh Evidence of Accounting Manipulation, Sibling Self-Dealing And Sanctions Evasion At This AI High Flyer."
Then, on August 28, 2024, the Super Micro class action lawsuit alleges that Super Micro announced it would "Delay Form 10-K Filing for Fiscal Year 2024," stating that "[a]dditional time is needed for [Super Micro's] management to complete its assessment of the design and operating effectiveness of its internal controls over financial reporting as of June 30, 2024." On this news, the price of Super Micro stock fell more than 21% over two trading sessions, according to the complaint.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Super Micro securities during the Class Period to seek appointment as lead plaintiff in the Super Micro class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Super Micro class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Super Micro class action lawsuit. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Super Micro class action lawsuit.
ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world's leading law firms representing investors in securities fraud cases. Our Firm has been #1 in the ISS Securities Class Action Services rankings for six out of the last ten years for securing the most monetary relief for investors. We recovered $6.6 billion for investors in securities-related class action cases - over $2.2 billion more than any other law firm in the last four years. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs' firms in the world and the Firm's attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever - $7.2 billion - in In re Enron Corp. Sec. Litig. Please visit the following page for more information:
https://www.rgrdlaw.com/services-litigation-securities-fraud.html
Attorney advertising. Past results do not guarantee future outcomes. Services may be performed by attorneys in any of our offices.
CONTACT: Robbins Geller Rudman & Dowd LLP J.C. Sanchez, Jennifer N. Caringal 655 W. Broadway, Suite 1900, San Diego, CA 92101 800-449-4900info@rgrdlaw.com
SOURCE: Robbins Geller Rudman & Dowd LLP
View the original press release on accesswire.comThe most recent trading session ended with Super Micro Computer (SMCI) standing at $436.88, reflecting a -0.57% shift from the previouse trading day's closing. The stock's change was less than the S&P 500's daily loss of 0.29%. Elsewhere, the Dow lost 0.25%, while the tech-heavy Nasdaq lost 0.31%.
Coming into today, shares of the server technology company had lost 28.08% in the past month. In that same time, the Computer and Technology sector lost 1.17%, while the S&P 500 gained 1.57%.
The investment community will be paying close attention to the earnings performance of Super Micro Computer in its upcoming release. The company is predicted to post an EPS of $7.45, indicating a 117.2% growth compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.52 billion, up 207.52% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $33.50 per share and a revenue of $28.01 billion, demonstrating changes of +51.65% and +87.45%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for Super Micro Computer. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. At present, Super Micro Computer boasts a Zacks Rank of #3 (Hold).
With respect to valuation, Super Micro Computer is currently being traded at a Forward P/E ratio of 13.11. For comparison, its industry has an average Forward P/E of 13.11, which means Super Micro Computer is trading at no noticeable deviation to the group.
The Computer- Storage Devices industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 157, which puts it in the bottom 38% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Zacks Investment Research
Taiwan Semiconductor Manufacturing Co stock lost 4% in the last 30 days. Last month saw volatility as Nvidia Corp released its quarterly print and more.
The VanEck Semiconductor ETF and iShares Semiconductor ETF , representing the semiconductor industry, have lost ~7% in the last 30 days. Now, let’s run down the events for Taiwan Semiconductor since Nvidia released its quarterly print.
On August 28, Nvidia reported second-quarter topline growth of 122% to $30.04 billion, quashing the analyst consensus of $28.68 billion.
Also Read: Intel Looks To Restructure Foundry Business, Bags Major US Deal and Government Grants
The company projected third-quarter revenue of $31.85 billion—$33.15 billion, versus the consensus of $31.77 billion.
Still, the stock dropped by 6% in after-hours trading, sending semiconductor stocks, including Taiwan Semiconductor, Advanced Micro Devices, Inc , and Super Micro Computer, Inc , down as the print failed to impress the Street.
The semiconductor sector selloff continued in September, with U.S.-China geopolitical tensions intensifying due to the Western counterpart’s artificial intelligence technology embargo on the Asian counterpart.
Meanwhile, Taiwan Semiconductor remained invested in solidifying its moat by localizing neon gas production, a key chipmaking material disrupted by the Ukraine war, and fast-tracking the development of silicon photonics to address the energy and data transmission speeds needed by AI computing.
Taiwan Semiconductor projected a 50% growth in AI accelerators at the Semicon Taiwan industry forum in Taipei despite concerns over the sustainability of the AI frenzy, which is sending jitters across the market. Broadcom Inc’s quarterly print and guidance did little to contain the semiconductor selloff.
On the brighter side, reports indicated that the contract chipmaker’s production yield at the Arizona facility is at par with its Taiwan facilities.
Taiwan Semiconductor reported 33% topline growth in August 2024, testimony to the smartphone market recovery and continued demand for Nvidia AI chips. Analysts expect third-quarter revenue growth of 37%.
Some of Taiwan Semiconductors key September wins included a Alphabet Inc Google smartphone deal involving Pixel 10 and Pixel 11 chips and Apple Inc’s A16 chip at its Arizona Fab.
Taiwan Semiconductor is up over 90% in the last 12 months as it led the global foundry market, commanding a 62% share in the second quarter of 2024.
Price Action: TSM stock closed at $167.28 on Wednesday.
Image via Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
NEW YORK, NY / ACCESSWIRE / September 18, 2024 / Leading securities law firm Bleichmar Fonti & Auld LLP announces that a lawsuit has been filed against Super Micro Computer, Inc. (NASDAQ:SMCI) and certain of the Company's senior executives for potential violations of the federal securities laws.
If you invested in Super Micro Computer, you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases-investigations/super-micro-computer-inc.
Investors have until October 29, 2024 to ask the Court to be appointed to lead the case. The complaint asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors in Super Micro Computer securities. The case is pending in the U.S. District Court for the Northern District of California and is captioned Averza v. Super Micro Computer, Inc., et al., No. 24-cv-06147.
What is the Lawsuit About?
The complaint alleges that Super Micro Computeris one of the largest providers of high-performance and high-efficiency servers. The complaint further alleges that during the Class Period, the Company misrepresented its financial growth, relationships with related parties, and its compliance with United States export restrictions.
On August 27, 2024, Hindenburg Research, a well-known short seller, published a report concerning Super Micro Computer that "found glaring accounting red flags, evidence of undisclosed related party transactions, sanctions and export control failures, and customer issues."
The next day, on August 28, 2024, Super Micro Computer announced that it needed to delay the filing of its Annual Report for the fiscal year ended June 30, 2024 to assess the effectiveness of its internal controls over financial reporting.
The news caused a significant 21% decline in the price of Super Micro Computer stock, from $562.51 per share on August 26, 2024 to $443.49 per share on August 28, 2024.
Click here for more information:https://www.bfalaw.com/cases-investigations/super-micro-computer-inc.
What Can You Do?
If you invested in Super Micro Computer, Inc. you may have legal options and are encouraged to submit your information to the firm.
All representation is on a contingency fee basis, there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses.
Submit your information by visiting:
https://www.bfalaw.com/cases-investigations/super-micro-computer-inc
Or contact:
Ross Shikowitz
212-789-3619
Why Bleichmar Fonti & Auld LLP?
Bleichmar Fonti & Auld LLP is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It was named among the Top 5 plaintiff law firms by ISS SCAS in 2023 and its attorneys have been named Titans of the Plaintiffs' Bar by Law360 and SuperLawyers by Thompson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.'s Board of Directors (pending court approval), as well as $420 million from Teva Pharmaceutical Ind. Ltd.
For more information about BFA and its attorneys, please visit https://www.bfalaw.com.
https://www.bfalaw.com/cases-investigations/super-micro-computer-inc
Attorney advertising. Past results do not guarantee future outcomes.
SOURCE: Bleichmar Fonti & Auld LLP
View the original press release on accesswire.comWhite Label
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