The authenticity of the news remains to be determined...
$Super Micro Computer (SMCI.US)$Established in 2004, Kenwei, as stated in the company's 2023 10-K annual report, has CEO Jianrong Liang, who is also the younger brother of Jianhao Liang. Therefore, Super Micro, Daxun, and Kenwei are investment partners, and related information was disclosed as early as 2009 in SEC documents.
We emphasize that the recent troubles have caused distress to our partners and investors. Many of the contents were announced several years, even decades ago, but have been distorted by malicious individuals. To defend the company's reputation, from now on, any false accusations that directly affect the rights and interests of shareholders and employees will be pursued legally. The manipulation of accounting reports is part of the allegations made by former employee Bob Luong, but in April of this year, we have filed a lawsuit against the employee and it is currently in legal proceedings, so we cannot elaborate further. In addition, in August 2020, we were fined $17.5 million by the U.S. Securities and Exchange Commission (SEC) for improper embellishment of financial report figures. After paying the fine, we rehired three senior executives directly involved, which is a fact, but all comply with local U.S. laws and have been approved and announced by the SEC. For example, one of the founders, Yi-Xian Liao, was rehired as a consultant in May 2021 and re-elected to the board of directors at the shareholders' meeting in December 2023, with SEC approval and announcement. We emphasize that the delay in the 2024 annual report (10-K) is mainly due to the company's appointment of an accounting firm and issues with the handover process, which led to the delay in submitting the 2024 annual report until mid-September. This delay was due to a request for additional information from the SEC and was not due to accounting manipulation.
We emphasize that the recent troubles have caused distress to our partners and investors. Many of the contents were announced several years, even decades ago, but have been distorted by malicious individuals. To defend the company's reputation, from now on, any false accusations that directly affect the rights and interests of shareholders and employees will be pursued legally. The manipulation of accounting reports is part of the allegations made by former employee Bob Luong, but in April of this year, we have filed a lawsuit against the employee and it is currently in legal proceedings, so we cannot elaborate further. In addition, in August 2020, we were fined $17.5 million by the U.S. Securities and Exchange Commission (SEC) for improper embellishment of financial report figures. After paying the fine, we rehired three senior executives directly involved, which is a fact, but all comply with local U.S. laws and have been approved and announced by the SEC. For example, one of the founders, Yi-Xian Liao, was rehired as a consultant in May 2021 and re-elected to the board of directors at the shareholders' meeting in December 2023, with SEC approval and announcement. We emphasize that the delay in the 2024 annual report (10-K) is mainly due to the company's appointment of an accounting firm and issues with the handover process, which led to the delay in submitting the 2024 annual report until mid-September. This delay was due to a request for additional information from the SEC and was not due to accounting manipulation.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
102514703 : I saw it this morning, there was absolutely no deviation here
LELT : Yes. However their actions subsequently reflect badly on them. Furthermore, they have a past history of financial irregularity. They re-employed those responsible for fraud in the past speaks volumes. Trade yes but at this moment never investment
Yongchao 施 广 金玉 OP : I didn't scold anyone. Just happened to see you, someone I know.
施 广 金玉 OP Yongchao : Do you know me?