Super Micro Computer Faces DOJ Probe Over Alleged Accounting Violations, Stock Down 14%

Sep 26, 2024, 02:50 PM

Super Micro Computer (SMCI), a server maker that has benefited from the artificial intelligence boom, is being investigated by the U.S. Department of Justice for alleged accounting violations. This probe follows a critical report by the activist short-selling firm Hindenburg and accusations from a former employee, as reported by the Wall Street Journal. The investigation is in its early stages, and the company's stock has been halted and is down 14%.