Super Micro Stock Soars After Internal Review Clears Management of Misconduct

The investigation, prompted by allegations from a short-seller and the resignation of its auditor, found no evidence of accounting irregularities but highlighted governance improvements.

Super Micro's stock surged 29% after a special committee's investigation found no evidence of misconduct by management or the board.
The internal review, initiated after allegations by Hindenburg Research and the resignation of Ernst & Young, involved over 9,000 hours of legal and forensic accounting work.
The committee's findings contradicted Ernst & Young's resignation claims, stating they were not supported by the evidence reviewed.
While the investigation cleared management, it identified lapses in monitoring rehired employees involved in a prior accounting violation case.
Despite the stock rally, analysts remain cautious due to ongoing compliance concerns, including a potential Nasdaq delisting and a reported Department of Justice investigation.