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  • Super Micro Computer says Ernst & Young resigns as auditor, shares tank

    10/30/2024 7:13:55 AM PDT · by SunkenCiv · 35 replies
    Reuters ^ | October 30, 2024 | Reporting by Zaheer Kachwala in Bengaluru; Editing by Shreya Biswas and Devika Syamnath
    Super Micro Computer (SMCI.O) said on Wednesday Ernst & Young had resigned as its auditor, sending its shares tumbling more than 30% and deepening investor worries about accounting practices at the artificial intelligence server maker.The company in late August delayed the filing of its annual report, citing a need to assess "its internal controls over financial reporting", after Hindenburg Research disclosed a short position and made claims of "accounting manipulation".Super Micro disclosed on Wednesday EY had in late July raised concerns about its governance, transparency and internal control over financial reporting, after which the company appointed a special committee and...