Super Micro Computer tumbles 25% on 10K reporting delay, accusations of accounting irregularities
WASHINGTON (AP) — Super Micro Computer lost a quarter of its value in morning trading Wednesday after the server technology company said it was delaying the filing of its annual report. The company said in a regulatory filing that “additional time is needed for management to complete its assessment of the design and operating effectiveness of its internal controls over financial reporting as of June 30, 2024,” which was the end of the company’s fiscal year. Super Micro Computer’s announcement comes one day after short-selling firm Hindenburg Research said a three-month review turned up new evidence of accounting manipulation by…