Super Micro faces US investigation after Hindenburg allegations
The DOJ is investigating Super Micro, which recently denied allegations of accounting manipulation made by short-seller Hindenburg Research.
The United States Department of Justice is investigating Super Micro Computer, according to a Wall Street Journal report citing sources familiar with the matter. Following the news, shares of the AI server maker fell by about 5%.
Earlier in the month, Super Micro had denied allegations made by short-seller Hindenburg Research, which accused the company of ‘accounting manipulation’ and cited issues like undisclosed related-party transactions and failure to comply with export controls.
Hindenburg revealed its short position in Super Micro in August, prompting a further examination of the company’s financial practices. Super Micro has dismissed the report as containing ‘false or inaccurate statements.’ The server maker did not immediately respond to requests for comment from Reuters.
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