This article uses auto-translation for parts.
$Super Micro Computer (SMCI.US)$ plunges more than 10% after hours, revealing Hindenburg Research's short sell position.
According to the Hindenburg Company's report, the company conducted a three-month investigation that included interviews with former senior employees and industry experts, litigation records, international corporate records, customs records, etc. The company $Super Micro Computer (SMCI.US)$However, it has been revealed that there are accounting issues, undisclosed evidence of related transactions, failures in sanctions and export controls, and customer issues.
In addition, the report states that in 2018, Supermicro was temporarily delisted from the NASDAQ for failing to submit financial statements. By August 2020, the company was indicted by the SEC for "widespread accounting violations," primarily related to improper revenue recognition of over $0.2 billion and underreporting of expenses, artificially inflating revenue, profit, and profit margins. The report also pointed out that within three months of paying a $17.5 million SEC settlement, Supermicro began rehiring executives directly involved in the accounting scandal.
Related articles
Fresh evidence of accounting manipulation, sibling self-dealing and sanctions evasion at this AI high flyer – Hindenburg Research
- moomoo news Citron
This article uses auto-translation for parts.