Super Micro Computer said on Tuesday that an independent probe into concerns flagged by former auditor EY had turned up no evidence of fraud or misconduct by its management or board, but its shares fell as it said it was unsure when it would file its annual report with regulators.
The server maker’s stock, which had soared off the back of hype surrounding artificial intelligence, had fallen by one-third last week after EY said it was resigning as its auditor.
In a filing on Tuesday Super Micro said that an independent special committee given the task of conducting a review into EY’s concerns had found “no evidence of fraud or misconduct on the part of management or the board of directors”.
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