Super Micro Computer under DoJ investigation for accounting violations following concerns raised by Hindenburg.

From Investing.com: 2024-09-26 11:28:19

Super Micro Computer, a key player in the AI server industry, is under investigation by the DoJ following concerns raised by Hindenburg Research about accounting practices. The probe is in early stages, with a prosecutor seeking information in San Francisco. A whistleblower lawsuit accused the company of accounting violations, including improper revenue recognition and incomplete equipment shipments. Super Micro, known for servers using Nvidia chips for generative AI, saw a stock surge during the AI boom but has since plummeted in value. Shares are down 12% following the WSJ report, which also highlighted transactions and sanctions violations. Liang defended the company, denying the allegations.



Read more at Investing.com: Super Micro Computer probed by DoJ