Reported 27 days ago
Shares of Super Micro Computer fell by 33% following the resignation of Ernst & Young as its public accounting firm, which cited concerns over the company's transparency and internal controls during an audit. The resignation comes amidst allegations of accounting manipulation and an ongoing investigation by the Justice Department. Despite this drop, Super Micro's shares are still up 17% for the year, after reporting a substantial revenue increase in its latest quarter.
Source: YAHOO