Super Micro Computer Stock Falls On Report Of DOJ Probe: What To Know
Portfolio Pulse from Erica Kollmann
Super Micro Computer, Inc. (NASDAQ:SMCI) shares are falling due to a DOJ probe following a short report by Hindenburg Research. The report alleges accounting violations, leading to a sharp decline in SMCI's stock price.
September 26, 2024 | 4:49 pm
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Super Micro Computer is under investigation by the DOJ following allegations of accounting violations from a Hindenburg Research report. The stock has dropped 15.6% as a result.
The DOJ probe into Super Micro Computer's alleged accounting violations is a significant legal issue that has led to a sharp decline in the stock price. The allegations are serious, involving improper revenue recognition and re-hiring of employees involved in past violations. This has resulted in a 15.6% drop in the stock price, indicating a negative short-term impact.
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