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Super Micro Computer (SMCI), a retailer of high-performance servers and liquid-cooled AI racks, has remained in the spotlight ever since Hindenburg Research published its damning report against the company back in August, prompting SMCI to then delay the filing of the requisite annual report, presumably in a bid to undertake a comprehensive internal review. Now, however, Super Micro Computer appears perilously close to a maelstrom, given that its accounting firm has resigned, and the requisite annual report has yet to be filed.
New 8-K from $SMCI today
Down 25% on the news
On October 24, 2024, Ernst & Young LLP (“EY”) sent the members of the Audit Committee a letter of resignation as the Company’s registered public accounting firm
Never a good sign when the accounting firm resigns #SMCI pic.twitter.com/OYLifmPTol
— Wolf of My Street🏡 (@Ryan__Rigg) October 30, 2024
To wit, Ernst & Young (EY) has now sent a letter to Super Micro Computer’s audit committee, tendering its resignation as the company’s officially designated accounting firm.
Critically, EY resigned during the auditing process pertaining to Super Micro Computer’s financial statements for the year that ended on the 30th of June, 2024:
“EY was engaged on March 15, 2023, to perform an audit for the Company’s fiscal year ending June 30, 2024, and has not issued any report on the Company’s financial statements or the…
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