Super Micro Computer Says Independent Probe Into Indicted Workers Is Ongoing

MT Newswires Live05:26

Super Micro Computer (SMCI) said late Tuesday that an independent investigation is ongoing into the March indictment of three individuals who were associated with the company at the time.

The company said it was informed on March 19 that two employees and a contractor had been indicted in connection with an alleged conspiracy to commit export-control violations. Super Micro is not named as a defendant and is not accused of wrongdoing. The three individuals no longer have any relationship with the company.

The investigation is being led by two independent board members, Scott Angel and Tally Liu, who will report their findings to the other four independent directors, the company said. The board has retained Munger, Tolles & Olson as external counsel, with AlixPartners serving as an independent consultant.

The independent directors have not set a definitive timeline for the probe, the company said.

Separately, the company has begun an internal review of its global trade compliance program. The review is being led by Yitai Hu, general counsel and senior vice president, with findings to be reported to the independent directors.

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