Reported 22 days ago
Super Micro Computer's stock has plummeted over 40% following the resignation of its auditor, Ernst & Young, amid ongoing investigations into the company's accounting practices and allegations of misconduct. This isn't the first time the company has faced controversy; it previously dealt with SEC charges and internal audits after misreporting financial information. The situation has sparked concerns among investors, especially given the Department of Justice's probe into the company and the negative claims from a short seller, raising significant doubts about the future.
Source: YAHOO