BUZZ-Super Micro Computer plunges after EY resigns as accountant

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BUZZ-Super Micro Computer plunges after EY resigns as accountant

Reuters10-30

** Shares of Super Micro Computer plunge 24% to $37.21 after Ernst & Young resigns as the company's accountant

** SMCI hits lowest since January this year, on track for biggest daily pct decline since September 2018

** EY notified SMCI board committee of its resignation on Oct 24, according to a regulatory filing on Wednesday

** SMCI has begun the process of selecting another accounting firm and it does not expect the issues raised by EY to result in restatements of its quarterly reports for current and prior fiscal years

** EY began working for SMCI on March 15, 2023

** SMCI shares up ~18% YTD

(Reporting by Chibuike Oguh in New York)

((mailto:Chibuike.Oguh@thomsonreuters.com; +332-219-1834; Reuters Messaging: rm://chibuike.oguh.thomsonreuters.com@reuters.net/))

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