Reported 1 day ago
Super Micro Computer (SMCI) is seeking a new Chief Financial Officer after an independent review concluded that there was no evidence of fraud or misconduct within the company's management. The three-month investigation was prompted by concerns from Super Micro's previous auditor, Ernst & Young, regarding governance and financial reporting practices. Despite finding some lapses related to the reporting of rehired employees, the committee maintained that overall financial oversight was adequate. The company's shares rose by around 20% following the announcement.
Source: YAHOO