Reported 26 days ago
Super Micro Computer's shares plummeted 34% after Ernst & Young resigned as its auditing firm, raising serious concerns about the accuracy of its financial statements and corporate governance. The resignation followed allegations of accounting manipulation from Hindenburg Research, and now investors are questioning the integrity of Super Micro's management. The situation has prompted Needham to suspend its buy rating on the stock amidst an ongoing investigation by the U.S. Department of Justice.
Source: YAHOO