Super Micro Computer shareholders have sued the tech firm, accusing it of committing securities fraud, reports news agency Reuters. The shareholders claim that the company hid its dependence on sales to China that violated US ‌export laws. Earlier this week, US authorities filed a class action against Super Micro computer co-founder and two others accusing them of smuggling Nvidia chips to China. According to the report, shareholders say that Super Micro gave an overly positive picture of its business and pushed up its stock price by not revealing that a large share of its server sales went to companies in China. They also claimed the company had serious gaps in following export control rules.Last week, the US Justice Department charged Yih-Shyan Liaw; a co-founder and director of Super Micro, Ruei-Tsang Chang; a sales manager, and Ting-Wei Sun; a contractor, in an indictment unsealed in federal court in Manhattan. Other defendants ‌in the ⁠civil lawsuit are Chief Executive Charles Liang and Chief Financial Officer David Weigand. Prosecutors in the criminal case said Liaw and Chang directed an unnamed company in Southeast Asia to buy servers with ⁠Nvidia’s chips, and that the company bought $2.5 billion of servers in 2024 and 2025.

Yih-Shyan Liaw resigns from the company’s board

Following the indictment, Super Micro removed Yih-Shyan Liaw from its board of directors. “Following Mr. Liaw’s resignation, the Company’s Board comprises eight directors,” Super Micro said in an official press release adding “There are no changes to the Board’s committee structure.”The company then appointed DeAnna Luna as acting Chief Compliance Officer.

Super Micro shares statement

“The conduct by these individuals alleged in the indictment is a contravention of the Company’s policies and compliance controls, including efforts to circumvent applicable export control laws and regulations,” according to a statement quoted by CNBC in its report. “Supermicro maintains a robust compliance program and is committed to full adherence to all applicable U.S. export and re-export control laws and regulations.”