Super Micro Computer review finds 'no evidence' of misconduct that led to EY resignation
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Super Micro Computer Inc (NASDAQ:SMCI) shares surged 14% after an investigation found no evidence of misconduct following Ernst & Young's resignation. No financial restatements are expected.
December 02, 2024 | 3:30 pm
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POSITIVE IMPACT
Super Micro Computer Inc shares rose 14% after an investigation found no evidence of misconduct, alleviating concerns raised by Ernst & Young's resignation.
The investigation's findings of no misconduct and no need for financial restatements directly address the concerns that led to a 62% stock slump. This positive outcome has led to a 14% increase in stock price, indicating restored investor confidence.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100