Investing.com — Shares of Super Micro Computer Inc (NASDAQ:SMCI) rose sharply in evening trades on Monday after it appointed BDO USA as its auditor and said it had filed a plan with the Nasdaq to get more time to comply with listing rules to comply.
Super Micro shares rose 36% to $29.30 at 6:32 PM ET (23:32 GMT).
The server maker said it believed it would be able to complete its annual and quarterly reports, although it did not specify when it would do so.
“BDO is a highly respected accounting firm with global capabilities. This is an important next step in bringing our financial statements current, an effort we are pursuing with both dedication and urgency,” Super Micro President and CEO Charles Liang said in a statement.
Shares of Super Micro fell sharply in October after Ernst&Young resigned as the company’s auditor, citing concerns about its internal controls and board independence. The company was also reportedly under federal investigation over a short seller report and had delayed the filing of its 2024 financial reports.
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