Super Micro's auditor, Ernst & Young, resigned amid questionable practices, signaling troubling signs for investors and causing a 33% stock drop as a result.
Ernst & Young's letter to the SEC stated they agreed only with specific disclosures, indicating a troubling level of disagreement with Super Micro's accounting practices.
Governance expert Jason Schloetzer described the auditor's resignation as a 'noisy withdrawal,' highlighting the unusual nature of such a move in financial circles.
Despite remarkable growth from the AI boom, Super Micro's history of accounting violations raises significant concerns about its financial integrity moving forward.
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