Super Micro Computer's Compliance Plan and Auditor Appointment
Super Micro Computer has submitted a compliance plan to regain compliance with the Nasdaq Capital Market's listing requirements. The plan includes completing the annual report for the fiscal year ended June 30 and the quarterly report for the fiscal quarter ended Sept. 30. The company has also appointed BDO USA as its independent auditor. The announcement has led to a 15% increase in Super Micro Computer's shares in extended trading. CEO Charles Liang emphasized the importance of bringing the financial statements current and expressed confidence in BDO's capabilities. The compliance plan follows a delay in filing the annual 10-K report and allegations of accounting manipulation by Hindenburg Research.