"We are resigning due to information that has recently come to our attention which has led us to no longer be able to rely on management's and audit committee's representations." - Ernst & Young's resignation letter highlights the loss of trust in Supermicro's management.
"The concerns, disclosed in a recent SEC filing, only serve to stoke the fires of controversy surrounding Supermicro, which, after more than two months, still hasn't filed its 10-K annual report." This emphasizes the urgency and gravity of Supermicro's reporting issues.
"In the wake of the lawsuit, activist short-seller Hindenburg Research claimed to have obtained additional evidence of accounting manipulation and unscrupulous behavior." This quote illustrates the rising scrutiny and allegations against Supermicro.
"EY's resignation apparently came months after it raised concerns with management regarding the 'governance, transparency, and completeness of' Supermicro's financial reporting." This shows the ongoing issues that led to major corporate governance challenges.
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