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Market Mover | Super Micro Computer Shares Fall Over 23%, Announces That it Will Delay Form 10-K Filing for FY2024

Moomoo News ·  Aug 28 10:02  · Movers

August 28, 2024 - $Super Micro Computer (SMCI.US)$ shares continued down 23.27% to $420.21 in trading on Wednesday.

Super Micro Computer, Inc. (SMCI), a global IT solutions provider, today announced that it expects that it will not timely file its Annual Report on Form 10-K for the fiscal year ended June 30, 2024, and expects to file a Notification of Late Filing on Form 12b-25 with respect to the Annual Report on August 30, 2024.

Additionally, the American short-seller Hindenburg Research released a report on SMCI on August 27. The report accused SMCI of accounting manipulation, evidence of undisclosed related-party transactions, sanctions and export control failures, and customer issues.

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