Super Micro Computer faced potential delisting from Nasdaq after failing to file reports on time, prompting the hiring of BDO USA as a new auditor.
CEO Charles Liang emphasized the importance of working with BDO USA to bring financial statements current, reflecting urgency and diligence in achieving compliance.
The former auditor, Ernst & Young, resigned due to lack of trust in Super Micro's management and board's audit committee, which raises concerns for stakeholders.
Super Micro experienced a past delisting in 2018 but made a spectacular comeback in 2020, joining the Fortune 500 after significant stock price growth.
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