An independent special committee found no evidence of corporate misconduct or fraud at Super Micro Computer, despite concerns raised by its auditors regarding internal financial controls.
Following an investigation prompted by an audit committee's warning, the special committee's interim findings led to a resigning auditor and significant share price drop before clearing the company's management of wrongdoing.
Super Micro Computer's board formed a special committee and hired external firms to investigate potential financial improprieties after EY raised concerns about the company's internal controls.
Despite Ernst & Young's resignation due to concerns about management representations and internal controls, Super Micro Computer maintains no wrongdoing was found by the special committee.
Collection
[
|
...
]