Super Micro Computer (SMCI) stock plummeted over 10% in pre-market trading after the company announced it couldn’t file its quarterly report due to an ongoing investigation into internal controls. The delay raises concerns about the company’s financial health and potential delisting from Nasdaq.
A class action lawsuit has been filed against Autodesk Inc. (ADSK) alleging that the company made materially false and misleading statements about its internal controls and financial performance during the period between June 1, 2023, and April 16, 2024. The lawsuit claims that Autodesk lacked adequate internal controls, leading to issues with its free cash flow and non-GAAP operating margin practices. As a result, the company’s statements about its business and prospects were allegedly false and misleading.
