The Department of Justice has launched an investigation into Supermicro's accounting practices, following allegations from a whistleblower lawsuit that the company misreported revenues by booking incomplete sales.
Shares of Supermicro plummeted over 16 percent after news of the DOJ probe, reflecting the market's reaction to potential serious allegations regarding accounting manipulation.
CEO Charles Liang has rejected claims made by Hindenburg Research regarding accounting manipulation, asserting that the report includes 'false or inaccurate statements'.”},{
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