This investigation is for anyone who acquired securities in Sanmina Corporation (NASDAQ: SANM) prior to May 11, 2023.
The Law Offices of Howard G. Smith believes that the Company and certain of its executives violated federal law. Specifically, the Law Offices of Howard G. Smith believes that the Company misled investors regarding its financial condition. More specifically, the Law Offices of Howard G. Smith believes that the Company misled investors by telling investors the Company had controls in place to assure proper accounting but then by materially overstating revenue.
On May 11, 2023, Sanmina disclosed that “certain personnel in a division within the Company’s Components, Products and Services business had failed to properly substantiate and update cost estimates for materials and other costs over the life of certain contracts,” and that an independent investigation found that “revenue was over/(understated) by approximately $10.2 million, $18.3 million, ($29.1 million), and $5.6 million, and GAAP earnings per share was over/(understated) by approximately $0.09, $0.29, $0.25, and ($0.06) in the fiscal years ended October 3, 2020, October 2, 2021 and October 1, 2022, and the first fiscal quarter ended December 31, 2022, respectively.” Furthermore, the Company concluded that financial statements issued during the affected periods should no longer be relied upon. On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume.
The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Sanmina Corporation (NASDAQ: SANM) prior to May 11, 2023 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.
3070 Bristol Pike, Suite 112, Bensalem, PA 19020 
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hsmith@howardsmithlaw.com