Super Micro announces appointment of independent auditor, filing of compliance plan with Nasdaq
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Super Micro Computer (NASDAQ:SMCI) stock surged over 17% in extended trading on Monday after the company said it has engaged an independent auditor and has submitted a compliance plan to Nasdaq.
The company said it has engaged accounting firm BDO USA as its auditor, effective immediately.
This comes after the artificial intelligence server company on Wednesday said in a filing with the U.S. Securities and Exchange Commission that it needs more time to file its latest quarterly earnings report.
Super Micro on Monday added that in its compliance plan to Nasdaq, the company indicated that it believes it will be able to complete its annual report on Form 10-K for the year ended June 30, 2024, and its quarterly report on 10-Q for the fiscal quarter ended September 30, 2024.
If the company is delisted, it would be the second time. It was delisted in August 2018 for a delay in filing reports on its finances. It regained its listing in January 2020.